NEW YORK (CNN/Money) - Stocks slipped Wednesday morning, as weaker-than-expected earnings from Amazon.com and Boeing and a rise in Treasury yields offset any benefit from falling oil prices.

The Dow Jones industrial average (down 7.13 to 10,377.87, Charts), the broader S&P 500 (down 1.24 to 1,195.30, Charts) index and the Nasdaq composite (down 5.04 to 2,104.41, Charts) all declined modestly in the early going.

Stocks inched lower Tuesday on a mix of rising energy prices and Treasury bond yields, and some disappointing corporate earnings news.

Energy prices reversed course Wednesday morning, giving stocks some support, but Treasury yields continued to climb and the earnings news remained mixed.

Amazon.com (down $5.97 to $40.20, Research) reported quarterly earnings late Tuesday that fell from a year ago and missed estimates. The online retailer also issued a fourth-quarter revenue forecast that sets the midpoint below that of Wall Street analysts, suggesting slower revenue growth.

Shares slumped at the open.

On Wednesday morning, Dow component Boeing reported quarterly earnings that grew from a year ago, but missed forecasts. Revenue slipped from a year ago, due to a four-week strike by airplane assembly workers.

The company also boosted 2005 and 2006 earnings estimates. However, investors focused on the negative and sent Boeing (unchanged at $66.97, Research) shares nearly 3 percent lower at the open.

U.S. light crude oil for December delivery fell 43 cents to $62.01 a barrel in electronic trading, ahead of the weekly oil inventory report, due out around 10:30 a.m. ET.

Treasury prices slipped for the third session in a row, raising the yield on the 10-year note to 4.57 percent from 4.53 percent late Tuesday. Treasury prices and yields move in opposite directions.

The dollar gained against the euro and yen.

COMEX gold rose 20 cents to $474.90 an ounce.

In global trade, major Asian markets ended higher and European markets rose at midday.