US stock market opens lower; UPS slumps on weaker outlook - InfoNews

Current Conditions

Mainly Sunny
2.4°C

US stock market opens lower; UPS slumps on weaker outlook

January 23, 2015 - 6:45 AM

NEW YORK, N.Y. - The stock market is drifting lower in early trading after weak earnings results and outlooks from some big-name companies.

The large cost of timely deliveries hurt UPS during the holidays and the shipping company cut its outlook for the year. Its shares fell 9 per cent in premarket trading Friday.

The Standard & Poor's 500 index edged down five points, or 0.3 per cent, to 2,058 in early U.S. trading Friday. The Dow Jones industrial average fell 19 points, 0.1 per cent, to 17,795. The Nasdaq eased two points, or 0.1 per cent, to 4,746.

The yield on the 10-year Treasury fell to 1.83 per cent from 1.88 per cent late Thursday.

U.S. stock indexes ended the previous day with big gains after Europe's central bank unveiled a large bond-buying plan aimed revitalizing that region's economy.

News from © The Associated Press, 2015
The Associated Press

  • Popular penticton News
  • Comments
  • Pier 1 closing all of its stores in Canada
    Pier 1 Imports, Inc. announced today that it has entered into bankruptcy protection and is pursuing a sale. The retailer  commenced voluntary Chapter 11 proceedings in the U.S. Bankrupt
  • Vernon's Atlantis waterpark gets a new name
    A popular Vernon waterpark is starting its transformation with a new name. Formerly known as Atlantis Waterslides, the waterpark, located north of the city along Highway 97, has been renamed
  • Killing of 7-year-old girl stokes anger in Mexico
    MEXICO CITY - The killing of a 7-year-old girl on the southern outskirts of Mexico City has stoked rising anger over brutal slayings of women, including one found stabbed to death and skinned earl
  • Mammoth's tooth found in Williams Lake and preserved for decades by B.C. family
    What was once part of a mammoth-sized smile now is a very old conversation starter in Bryan Johnson's Vancouver home. Johnson's stepfather found a mammoth tooth in a creek at the sou
  • Vernon family captures mesmerizing melting ice
    A Vernon family was on their way home from Kelowna when they made a pit stop after noticing a beautiful scene along Wood Lake. Matthew Royal and his daughters noticed how “cool”
View Site in: Desktop | Mobile