Stocks slip in early trading after holiday

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Associated Press

Posted on July 7, 2014 at 9:04 AM

Updated Monday, Jul 7 at 11:00 AM

NEW YORK (AP) — U.S. stocks are falling in early trading as investors look ahead to corporate earnings this week.

The Dow Jones industrial average fell 59 points, or 0.4 percent, to 17,009 Monday. The Standard & Poor's 500 index slipped five points, or 0.3 percent, to 1,980. The Nasdaq fell nine points, or 0.2 percent, to 4,476.

Investors will get a sense of how companies are faring when some big names report quarterly results this week, including Alcoa and Wells Fargo.

BioDelivery Sciences International surged 15 percent after the company said its pain treatment fared better than a placebo in a study.

The Dow closed above 17,000 for the first time Thursday after the U.S. reported strong job gains. U.S. financials markets were closed Friday for July 4th.

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