US Stocks Dip On Mixed Earnings, Growth Worries
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
New York, (UrduPoint / Pakistan Point News - 3rd Aug, 2021 ) :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.
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 percent at 34,772.34.
The broad-based S&P 500 slipped 0.1 percent to 4,382.73, while the tech-rich Nasdaq Composite Index dipped 0.1 percent to 14,673.03.
Among individual companies, Activision Blizzard dropped 3.2 percent as the video game maker unveiled a management shakeup following employee protests and a California state lawsuit alleging toxic workplace conditions and discrimination against women.
The head of the Blizzard Entertainment unit, J. Allen Brack, is leaving "to pursue new opportunities," the company said in a statement, and will be replaced by company veterans Jen Oneal and Mike Ybarra.