U.S. stock indexes edged lower in early trading Monday as investors weighed the latest batch of company earnings news. Real estate and health care stocks were among the biggest decliners. Energy companies also fell as the price of crude oil headed lower.
KEEPING SCORE: The Dow Jones industrial average fell 1 point to 20,070 as of 10:07 a.m. Eastern Time. The Standard & Poor’s 500 index slid 3 points, or 0.2 percent, to 2,293. The Nasdaq composite index lost 6 points, or 0.1 percent, to 5,660. On Friday the Nasdaq closed at a record high and the S&P 500 came within a point of its own all-time high.
MALL WOES: Newell Brands tumbled 5.8 percent after the maker of Rubbermaid, Sharpie, Elmer’s Glue and other products reported disappointing sales and issued a full-year sales forecast that fell far short of analysts’ estimates. The company said the strong dollar and fewer people shopping at malls hurt sales of some key products. The stock fell the most in the S&P 500, sliding $2.74 to $44.15.
MIXED RESULTS: Sysco slid 3 percent after the food company reported better earnings, but its revenue was weaker than expected. The stock was down $1.55 to $50.99.
EXECUTIVE SHUFFLE: Tiffany & Co. fell 1.9 percent a day after the jewelry company’s CEO stepped down amid concerns about the company’s financial performance. Tiffany has begun to search for a successor to Frederic Cumenal, who was named chief executive of the company in April 2015. Michael Kowalski, chairman of the board of directors and previous CEO of Tiffany, was tapped to serve as interim CEO. The stock shed $1.48 to $78.99.