Wall Street is dipping following a mixed set of profit reports from big U.S. companies.
Wall Street is dipping Wednesday following a mixed set of profit reports from big U.S. companies. Worries about war in the Middle East are also dragging on the market. The Standard & Poor's 500 was 0.6% lower in early trading. The Dow Jones industrial average was down 110 points, or 0.3%,, as of 9:45 a.m. Eastern, and the Nasdaq composite was 0.8% lower.
The earnings reporting season for the summer is still in its early days, and the broad expectation is for S&P 500 companies to say their overall earnings per share rose last quarter for the first time in a year. Such growth in profits are essential for the stock market to keep rising, particularly when the other big factor that drives stock prices is pushing the other way.
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