Finance

Stocks pull back from record levels in early trade

NEW YORK (AP) — U.S. stocks are pulling back from record levels in early trading.

Krispy Kreme Doughnuts slumped 14 percent after the company cut its forecast for earnings this year, citing higher costs and fewer sales than previously estimated. The Standard & Poor's 500 index fell three points, or 0.2 percent, to 1,921 in the first few minutes of trading Tuesday.

The Dow Jones industrial average lost 44 points, or 0.3 percent, to 16,698. Visa fell the most in the Dow. The Nasdaq composite fell seven points, or 0.2 percent, to 4,230. On Monday, both the Dow Jones industrial average and Standard & Poor's 500 index set record highs for the second straight trading day.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.56 percent.

Related Headlines

  • US stocks drift at midday; Krispy Kreme sinks

    U.S. stocks are drifting between small gains in losses in midday trading. Krispy Kreme Doughnuts sank 6 percent after reporting earnings that fell short of analysts' forecasts 

  • Stocks open mixed on Wall Street

    Stocks are opening mixed on Wall Street with little news to drive trading. Major indexes are headed for a slight weekly loss, their second this month. The Dow Jones industrial ... 

  • Scott Grau, Richard Newman

    A stock rally falters as US earnings disappoint

    The stock market is closing slightly lower as several U.S. companies report disappointing earnings. The decline broke a six-day winning streak. Intuitive Surgical dropped 12 ... 

  • Stocks rebound on Wall Street; Tiffany shines

    Stocks are recouping their losses from the day before as investors look through the latest corporate earnings news. The market held steady after the Federal Reserve released ... 

Find the best rates

Find your future job here