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U.S. stocks open lower amid earnings reports

Xinhua, October 25, 2016 Adjust font size:

U.S. stocks opened lower Tuesday as Wall Street digested a slew of earnings reports from notable companies.

Shares of Whirlpool Corp. sank over 9 percent in the early trading Tuesday after the U.S. appliance maker reported worse-than-expected quarterly results and issued a downbeat outlook.

Merck & Co., Inc. rose nearly 1 percent in early trading Tuesday after the drug maker posted third-quarter earnings report that beat market estimates.

Shares of Procter & Gamble jumped about 4 percent in early trading Tuesday following the release of the consumer goods giant's better-than-expected quarterly results.

Shares of Caterpillar Inc. traded mildly higher in early trading Tuesday despite the construction and mining equipment maker lowering its full-year revenue outlook for the second time.

Shortly after the opening bell, the Dow Jones Industrial Average fell 7.12 points, or 0.04 percent, to 18,215.91. The S&P 500 lost 2.69 points, or 0.13 percent, to 2,148.64. The Nasdaq Composite Index decreased 5.64 points, or 0.11 percent, to 5,304.19.

On Monday, U.S. stocks ended higher as investors digested positive earnings reports as well as corporate merger announcements. Endi