The major U.S. stock indexes edged lower in early trading Monday, pulled down primarily by a slide in phone companies. Supermarket operators and companies that sell consumer staples also fell. Utilities declined along with the price of natural gas. Oil companies led the gainers as the price of crude rose.
KEEPING SCORE: The Dow Jones industrial average fell 5 points to 20,816 as of 10:11 a.m. Eastern Time. The Standard & Poor’s 500 index slid 1 point to 2,366. The Nasdaq composite index lost 2 points to 5,842. The Dow notched 11 straight gains heading into Monday’s trading.
GROCERY SLIDE: Consumer staples sector stocks were among the biggest decliners in the S&P 500 as several supermarket operators declined. Kroger fell 95 cents, or 2.8 percent, to $32.35, while Whole Foods Market dipped 44 cents, or 1.4 percent, at $31.22. Supervalu shed 5 cents, or 1.3 percent, to $3.87.
DISAPPOINTING OUTLOOK: Power company AES fell 3.6 percent after its full-year profit forecast disappointed investors. The stock slid 42 cents to $11.51.
STRONG QUARTER: Tegna climbed 5.5 percent after the media company’s latest earnings beat Wall Street’s estimates. The stock rose $1.36 to $26.16.