Stock Indexes Mixed in Early Trade

Stock Indexes Mixed in Early Trade

(AP) -- U.S. stock indexes edged mostly lower in early trading Tuesday, extending modest losses from the day before. Several retailers posted quarterly results that fell short of Wall Street's expectations. Bank stocks were down the most, reflecting a steep drop in bond yields. Technology companies led the gainers.

KEEPING SCORE: The Standard & Poor's 500 index fell 2 points, or 0.1 percent, to 2,433 as of 10:12 a.m. Eastern Time. The Dow Jones industrial average slid 19 points, or 0.1 percent, to 21,164. The Nasdaq composite index was up 1 point to 6,297.

BUMPY OUTLOOK: Conn's slumped 11.6 percent after the furniture and mattress retailer issued a disappointing second-quarter outlook for sales at its established stores. The stock declined $2.19 to $16.69.

INCOVENIENT QUARTER: Casey's General Stores slid 6.7 percent after the convenience store operator's latest quarterly report card fell short of analysts' expectations. The stock fell $7.80 to $108.70.

SALES BIND: Fastenal was down 4.7 percent after the maker of industrial fasteners reported its May sales figures. The stock was the biggest decliner in the S&P 500, shedding $2.10 to $42.55.

GOOD LOOK: G-III Apparel Group vaulted 23 percent after the owner of Wilsons Leather and G.H. Bass stores posted better-than-expected quarterly results. The company also raised its estimates for the year. G-III Apparel shares added $4.76 to $24.62.

SMOOTH RIDE: Thor Industries jumped 10.6 percent after the RV maker reported profit and sales that handily beat Wall Street's expectations. The stock rose $10.07 to $104.76.

MARKETS OVERSEAS: In Europe, a weak report on retail sales in the 19-country eurozone weighed on markets. Germany's DAX was down 0.9 percent, while France's CAC 40 was 0.6 percent lower. Britain's FTSE 100 was down 0.2 percent ahead of the U.K. election on Thursday. In Asia, Japan's benchmark Nikkei 225 dipped nearly 1.0 percent, while Hong Kong's Hang Seng edged up 0.5 percent. South Korean markets were closed for a holiday.

ENERGY: Benchmark U.S. crude was down 15 cents, or 0.3 percent, at $47.25 a barrel in New York. The contract fell 26 cents on Monday. Brent crude, used to price international oils, was off 26 cents, or 0.5 percent, at $49.21 a barrel in London.

CURRENCIES: In currency trading, the dollar weakened to 109.46 yen from 110.49 yen on Monday. The euro increased to $1.1268 from $1.1255.

TREASURY YIELDS: Bond prices rose. The 10-year Treasury yield fell to 2.15 percent from 2.18 percent late Monday.

(KA)