US: Stocks dip on mixed earnings, growth worries
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[NEW YORK] Wall Street stocks edged lower early Tuesday as markets weighed mixed corporate earnings against global growth worries in light of the latest Covid-19 infections.
Among those reporting results, sports apparel company Under Armour jumped after topping expectations, while Clorox sank on lower profits compared with the year-ago period when Covid-19 worries boosted sales.
Strong earnings in the second quarter have helped keep stocks near records, even as the United States and other major economies contend with the Delta variant of Covid-19.
Major indices fell Monday as the yield on the 10-year US Treasury retreated, sharpening worries about the medium-term growth outlook.
About 20 minutes into trading, the Dow Jones Industrial Average was down 0.2 per cent at 34,772.34.
The broad-based S&P 500 slipped 0.1 per cent to 4,382.73, while the tech-rich Nasdaq Composite Index dipped 0.1 per cent to 14,673.03.
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