U.S. stock indexes drifted between small gains and losses in early trading Wednesday following mixed signals from Europe and Asia overnight. Technology and health care stocks were among the biggest gainers, while consumer-focused stocks and utilities companies were among the laggards.
KEEPING SCORE: The Dow Jones industrial average slipped 16 points, or 0.1 percent, to 18,521 as of 10:02 a.m. Eastern time. The Standard & Poor’s 500 index rose less than one point to 2,186. The Nasdaq composite index added 5 points, or 0.1 percent, to 5,281.
ECONOMIC RED FLAGS: A run of weak U.S. data has weighed on sentiment in markets in recent sessions. The soft data has reduced expectations that the Federal Reserve will raise interest rates again soon – a potential boon for stocks. However, worries over the U.S. economy have ratcheted up fears about the outlook and the earning power of companies – and that’s bad for stocks.
SUPERMARKET SLUMP: Shares in some supermarket operators were down sharply. Sprouts Farmers Markets fell $3.65, or 16 percent, to $19.16, after the company cut its guidance, citing falling food prices and rising discounts. Whole Foods slid $1.74, or 5.7 percent, to $28.96, while Kroger lost $1.27, or 3.9 percent, at $31.40.
NO FUN: Dave & Buster’s Entertainment fell 2.6 percent after the restaurant and arcade chain reported weaker-than-anticipated sales. The company also lowered its same-store sales growth outlook for the rest of the year. The stock shed $1.29 to $44.98