Wal-Mart drags on Dow

Blue-chip indicator dips after Wal-Mart's forecast, sales miss; broader market mixed on mild core inflation reading, narrowing of trade gap.


NEW YORK (CNNMoney.com) -- Stocks were mixed Tuesday morning as investors weighed a mild reading on core inflation, a narrowing of the trade gap and an earnings miss from Dow component Wal-Mart Stores.

The Dow Jones industrial average (up 0.00 to 13,236.53, Charts) lost 0.2 percent in the early going, while the broader S&P 500 (down 0.37 to 1,452.55, Charts) index was little changed. The tech-fueled Nasdaq Composite (up 3.69 to 2,545.93, Charts) index gained 0.2 percent.

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Stocks ended little changed Monday, giving up the day's gains, as investors showed relief that central banks around the world are addressing credit crunch worries, but remained wary amid lingering questions about the economy.

Tuesday morning was mixed, as investors sorted through the news, including a disappointing profit report and forecast from Wal-Mart Stores (down $2.32 to $43.85, Charts, Fortune 500). Shares of the world's largest retailer fell more than 5 percent, dragging on the Dow industrials.

Fellow Dow retailer Home Depot (down $0.02 to $35.22, Charts, Fortune 500) slipped one percent after reporting higher-than-expected quarterly earnings on weaker-than-expected quarterly sales. The home improvement retailer also reiterated that its per-share profit will dip as much as 18 percent this year.

On the economic front, the Producer Price index (PPI), a measure of inflation at the wholesale level, rose 0.6 percent in July, topping forecasts. However, prices excluding volatile food and energy rose just 0.1 percent, short of expectations.

Separately, the U.S. trade gap fell unexpectedly in June, with strong imports countering the impact of higher energy prices.

Treasury prices slipped, raising the benchmark 10-year note yield to 4.80 percent from 4.76 percent late Monday. Treasury prices and yields move in opposite directions.

In currency trading, the dollar rose versus the euro and the yen.

U.S. light crude oil for September delivery rose 58 cents to $72.20 a barrel on the New York Mercantile Exchange, giving up bigger morning gains.

COMEX gold for December delivery fell $2.90 to $678 an ounce. Top of page

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.