Stocks slip as earnings fail to inspire investors
NEW YORK (AP) — Stocks are edging lower on Wall Street as the latest round of earnings reports failed to give investors an impetus to push a recent rally forward.
The Dow Jones industrial average was down seven points at 13,973 as shortly before noon today.
The Standard & Poor’s 500 was off less than a point at 1,510. The Nasdaq composite fell a fraction to 3,170.
Time Warner rose after its net income grew 51 percent. Marathon Oil fell after its net income declined 41 percent on higher exploration costs and taxes.
Stocks are consolidating their gains after surging since the start of the year. The Dow closed above 14,000 for the first time since December 2007 Friday and had its best January in almost two decades.