By Palash R. Ghosh: Subscribe to Palash's RSS feed
July 20, 2010 5:22 PM EDT
Stocks are lower, but up from earlier lows, as investors are disappointed by the failure of some major companies, including IBM (NYSE: IBM), Goldman Sachs (NYSE: GS) and Johnson & Johnson (NYSE: JNJ) to post any significant gains in second-quarter revenues, raising doubts about the economic recovery.
A plunge in June home construction also soured investors' mood.
At 1:15 p.m. (EDT), The Dow Jones Industrial Average is down 59.33, or 0.58 percent, to 10,095.10. The S&P 500 index has fallen 3.16, or 0.29 percent, at 1,068.09 and the Nasdaq composite index has slipped 14.39, or 0.65 percent, to 2,183.84.
Apple Inc. (NASDAQ: AAPL) and Yahoo Inc.(NASDAQ: YHOO) will report results after the market closes.
Bond prices are higher as the yield on the benchmark 10-year Treasury note is down to 2.93 percent from 2.96 percent late Monday.
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However, Oil prices are up almost 1 percent over $77 per barrel.
Overseas, Britain's FTSE 100 fell 0.17 percent, Germany's DAX index dropped 0.69 percent, and France's CAC-40 slid 0.53 percent.
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