Stocks edge lower in early trade; IBM weighs on Dow average

AP News
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Posted: Oct 20, 2015 9:42 AM
Stocks edge lower in early trade; IBM weighs on Dow average

NEW YORK (AP) — Stocks are opening lower as some weak earnings reports weigh on the markets.

IBM weighed heavily on the 30-stock Dow Jones industrial average in early trading Tuesday.

IBM dropped 5 percent after the company reported that its revenue fell for the 14th quarter in a row.

Harley-Davidson sank 8 percent after the company reported a drop in profit and cut its forecasts for motorcycle shipments.

The Dow Jones industrial average fell 49 points, or 0.3 percent, to 17,184.

The Standard & Poor's 500 index lost two points, or 0.1 percent, to 2,031. The Nasdaq composite edged down four points, or 0.1 percent, to 4,900.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.07 percent.