Wall Street Dips On Earnings Concern

Category: Markets / Finance / Jan 08, 2013 10:57AM EDT
U.S. stocks fell on Tuesday (January 8) at the start of an earnings season that is expected to show sluggish corporate growth. Profits in the fourth quarter are seen above the previous quarter's lackluster results, but analysts' current estimates are down sharply from where they were in October. Quarterly earnings are expected to grow by 2.8 percent, according to Thomson Reuters data. The Dow Jones industrial average was down 26.42 points, or 0.20 percent, at 13,357.87. The Standard & Poor's 500 Index was down 2.23 points, or 0.15 percent, at 1,459.66. The Nasdaq Composite Index was down 0.94 points, or 0.03 percent, at 3,097.87.