U.S. stocks were mostly lower in early trading Tuesday following weak results from IBM, United Technologies and other big companies. Technology stocks were among the biggest decliners. The market is coming off three straight gains.
KEEPING SCORE: The Dow Jones industrial average fell 121 points, or 0.7 percent, to 17,978 as of 10:05 a.m. Eastern Time. The Standard & Poor’s 500 index slipped less than one point to 2,127. The Nasdaq composite rose eight points, or 0.2 percent, to 5,227.
REVENUE MISS: IBM slumped 4.8 percent following a mixed earnings report late Tuesday. The business software company delivered better-than-expected earnings, but its revenue fell short of financial analysts’ forecasts. The stock slumped $8.32 to $164.90.
ROUGH QUARTER: United Technologies slid 6.2 percent after the aerospace giant’s latest earnings didn’t meet forecasts. The stock lost $6.85 to $103.62.
HIGH ON THE HOG: Harley-Davidson surged after the motorcycle maker’s second-quarter earnings beat Wall Street expectations. The stock added $2.32, or 4.2 percent, to $57.26.
MARKETS OVERSEAS: In Europe, Germany’s DAX was down 0.5 percent, while the CAC-40 in France fell 0.2 percent. The FTSE 100 index of leading British shares was flat. In Asia, Japan’s Nikkei 225 added 0.9 percent and South Korea’s Kospi gained 0.5 percent. Hong Kong’s Hang Seng rose 0.6 percent. The Shanghai Composite Index in mainland China rose 0.6 percent.
ENERGY: Benchmark U.S. crude rose 57 cents to $50.72 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, l 10 climbed 53 cents to $57.18 in London.
BONDS: U.S. government bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 2.38 percent.