US stock indices fell on Wednesday on lingering worries about the state of the economy and the uncertain outlook for second-quarter earnings, though surprisingly strong demand for a Treasury auction limited losses. The earnings period unofficially kicks off after the bell on Wednesday with the release of results from Alcoa Inc, the first Dow component to report.
"I think the weight of earnings season is continuing to hang over the market," said Alan Gayle, the senior investment strategist at RidgeWorth Investments in Richmond, Virginia. "There's a lot of nervousness. I don't expect a lot of companies to raise their guidance this quarter." The S&P Energy index slid 1.5 percent to 343.14 while ConocoPhillips dropped 2.7 percent to $38.90.
The Dow Jones industrial average slipped 17.54 points, or 0.22 percent, to 8,145.99. The Standard & Poor's 500 Index was off 5.38 points, or 0.61 percent, to 875.65. The Nasdaq Composite Index gave up 6.23 points, or 0.36 percent, at 1,739.92.
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