Stocks Indexes Lower in Early Trade

Stocks Indexes Lower in Early Trade

(AP) -- U.S. stock indexes moved lower in early trading Tuesday, weighed down by a slide in materials and health care companies. Energy stocks also fell as the price of crude oil headed lower. The stock market was giving back some of its gain from the day before. Apple rose after rival Samsung discontinued its troubled Galaxy Note 7.

KEEPING SCORE: The Dow Jones industrial average fell 117 points, or 0.6 percent, to 18,211 as of 10:23 a.m. Eastern time. The Standard & Poor's 500 index slid 14 points, or 0.7 percent, to 2,148. The Nasdaq composite index lost 40 points, or 0.8 percent, to 5,288.

BIG SLUMP: Illumina sank 24 percent after the genetics research company announced late Monday that its third-quarter revenue fell short of Wall Street's expectations. The stock shed $44.80 to $140.05.

ROUGH QUARTER: Alcoa slid 9.5 percent after it reported softer-than-expected results for the third quarter, its last one before Alcoa splits into two companies on Nov. 1. The stock lost $3 to $28.51.

FORGET THIS: Digital storage companies Seagate Technology and Western Digital were both down early Tuesday. Seagate fell $2.18, or 5.7 percent, to $35.79, while Western Digital slid $1.73, or 2.9 percent, to $57.53.

SMARTPHONE WIN: Apple was up 1.6 percent after rival Samsung announced it was discontinuing its Galaxy Note 7 phone permanently because of overheating handsets. The Galaxy Note 7 competed with Apple's iPhone. Apple gained $1.90 to $117.99.

OVERSEAS MARKETS: In Europe, France's CAC 40 fell 0.1 percent, while Germany's DAX rose 0.1 percent. Britain's FTSE 100 slipped 0.2 percent. Earlier in Asia, Samsung's problems weighed on South Korea's Kospi, which ended the session down 1.2 percent. Elsewhere in the region, Japan's benchmark Nikkei 225 rose 1.0 percent, while Australia's S&P/ASX 200 added 0.1 percent. Hong Kong's Hang Seng dropped 1.4 percent.

OIL: Crude oil prices were down a day after spiking to their highest level in a year. Benchmark U.S. crude oil was down 17 cents to $51.18 a barrel in New York. Brent, the international standard, was down 21 cents to $52.93 a barrel in London.

BONDS AND CURRENCIES: Bond prices fell. The yield on the 10-year Treasury rose to 1.77 percent from 1.72 on Friday. Bond markets were closed Monday. In currency markets, the dollar strengthened to 103.71 yen from 103.68 on Monday. The euro fell to $1.1076 from $1.1139.

(KA)