Energy companies led U.S. stock indexes slightly lower in early trading Wednesday as the price of crude declined on weekly data showing oil inventories are at near-record highs. Financials and health care stocks also headed lower, while utilities and real estate were among the biggest gainers. Investors had their eye on the latest batch of company earnings from Disney and other big companies.
KEEPING SCORE: The Dow Jones industrial average fell 42 points, or 0.2 percent, to 20,047 as of 10:15 a.m. Eastern Time. The Standard & Poor’s 500 index slid 3 points, or 0.1 percent, to 2,289. The Nasdaq composite index gave up 9 points, or 0.2 percent, to 5,664. The Nasdaq was coming off an all-time high set Tuesday.
ENERGY SLUMP: Energy companies were falling along with prices for oil and gas futures. Oil rig operator Transocean slid 46 cents, or 3.4 percent, to $13.03.
DRUG DRAG: Gilead Sciences plunged 9.5 percent after the biotechnology company forecast disappointing sales of its hepatitis C drugs. The stock gave up $6.95 to $66.18.
HEALTHY SALES: Myriad Genetics jumped 11.9 percent after the diagnostic test maker said sales of hereditary cancer tests have begun rising again, driving revenue to the highest level in three years. The stock gained $1.83 to $17.23.