Stocks slip on weak earnings
NEW YORK -- Disappointing earnings from a range of companies pushed the stock market lower on Thursday, giving major indexes their third loss this week.
The stock prices of Morgan Stanley, UnitedHealth Group and others sank after they turned in weaker quarterly results. Prices of commodities held steady following a wild couple of days. Government bond yields remained near their lowest point of the year as investors sought safety.
The Standard & Poor's 500 index lost 10.40 points to close at 1,541.61, a decline of 0.7 percent.
Compared with the steep drops earlier this week, the losses on Thursday looked tame.
The Dow Jones industrial average fell 81.45 points to 14,537.14, down 0.6 percent. The Nasdaq composite lost 38.31 points to 3,166.36, down 1.2 percent.