US stocks dip after mixed earnings

NEW YORK: Wall Street stocks dipped early Tuesday following a trove of mixed corporate results ahead of releases from tech heavyweights.

Results later Tuesday from Google parent Alphabet will be followed later in the week by other giants such as Amazon and Microsoft. The calendar also includes jobs data among a heavy list of influential reports.

About 20 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 42,232.89.

The broad-based S&P 500 shed 0.2 percent to 5,810.52, while the tech-rich Nasdaq Composite Index slipped 0.1 percent to 18,556.64.

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Adam Sarhan of 50 Park Investments called the market “extended” after a strong stretch. There have been no significant pullbacks since August.

“When you have a tremendous amount of data coming out, it’s perfectly normal and healthy to see some profit taking before the data is announced,” he said.

Among companies reporting results, Ford tumbled nearly 10 percent, PayPal lost 7.5 percent and Corning jumped 8.0 percent.