The Dow Jones Industrial Average opened modestly lower on Tuesday, weighed by a sharp drop in shares of Goldman Sachs Group Inc. as well as McDonald’s Corp. and Home Depot . Goldman was in decline after the investment bank reported second-quarter earnings that showed a 40% drop in its bread-and-butter trading business. The price-weighted Dow was seeing Goldman alone exact a roughly 40-point toll on the Dow, with McDonald’s and Home Depot were contributing another 20 points combined to the gauge’s drop. Overall, the Dow was down 0.4% at 21,553, the S&P 500 index was slumping 0.1% at 2,456, and the Nasdaq Composite Index was 0.3% higher at at 6,332.
Editor’s note: This article has been updated from an earlier version.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News