US stocks dip on mixed earnings
Wednesday, 14 May 2014
US stocks Wednesday opened lower following mixed earnings reports, snapping a two-day streak of record closing highs on the Dow and S&P 500. Five minutes into trade, the Dow Jones Industrial Average fell 24.56 points (0.15 percent) to 16,690.88. The broad-based S&P 500 dipped 3.13 (0.16 percent) to 1,894.32, while the tech-rich Nasdaq Composite Index lost 13.99 (0.34 percent) at 4,116.17. Both retailer Macy's and agricultural-equipment manufacturer Deere & Company reported higher earnings than expected, but said sales declined compared with the year-ago period, according to AFP.