Stocks edge lower in early trading; Mattel sinks
Source: AP-EXCITE
By ALEX VEIGA
A mixed batch of economic data and disappointing corporate quarterly earnings reports nudged U.S. stocks slightly lower in early trading Thursday.
KEEPING SCORE: The Dow Jones industrial average slipped two points, or 0.01 percent, to 17,136 in the first 35 minutes of trading. The Standard & Poor's 500 index shed one point, or 0.1 percent, to 1,979. The Nasdaq composite fell two points, or 0.1 percent, to 4,423.
MIXED PICTURE: Government reports about the economy were inconclusive. The number of people seeking U.S. unemployment benefits fell last week, an encouraging sign about the labor market, however home construction fell in June to the slowest pace in nine months, a setback to hopes that housing will boost economic growth.
Snip: TROUBLED TOYLAND: Mattel fell 6.8 percent in early trading after the toy maker reported that its income plunged 61 percent in the second quarter, weighed down by costs tied to its acquisition of Mega Brands. The stock slid $2.64 to $36.39.
FULL story at link.
FILE - In this Aug. 16, 2007 file photo, the flags on the facade of the New York Stock Exchange are a backdrop for a Wall Street street sign. European stocks were lower after most Asian markets abandoned modest gains Thursday July 17, 2014 ahead of U.S. economic data and corporate earnings reports. (AP Photo/Richard Drew, file)
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