Stocks edge lower on Wall Street; Coke sinks

AP News
Posted: Jul 16, 2013 4:10 PM
Stocks edge lower on Wall Street; Coke sinks

NEW YORK (AP) — Stocks are closing lower on Wall Street after the latest batch of corporate earnings failed to impress investors.

Coca-Cola fell 2 percent to $40.23, the biggest drop in the Dow Jones industrial average, after reporting a slump in soda sales in North America.

The Dow fell 32 points, or 0.2 percent, to close at 15,451 Tuesday.

The Standard & Poor's 500 fell six points, or 0.4 percent, to 1,676. The S&P rose for the previous eight days, its longest winning streak since January.

The Nasdaq composite fell nine points, or 0.3 percent, to 3,598.

Two stocks fell for every one that rose on the New York Stock Exchange. Trading volume was very light at 3 billion shares.