Markets Right Now: Slumping energy sector pull stocks lower

The latest on developments in financial markets (All times local):

4 p.m.

Slumping energy stocks pulled the broader market slightly lower, erasing small gains from the day before.

A sharp drop in crude oil prices Tuesday weighed down the energy sector. Range Resources dropped 6.6 percent and Newfield Exploration gave up 7.1 percent.

Disappointing results or outlooks from retailers and other companies also weighed on the market. Utilities and consumer goods companies rose.

TJX Companies, the parent company of T.J. Maxx and Marshalls, slumped 4 percent after reporting revenue and earnings that missed analysts' estimates.

The Standard & Poor's 500 index fell 5 points, or 0.2 percent, to 2,578.

The Dow Jones industrial average lost 30 points, or 0.1 percent, to 23,409. The Nasdaq composite index fell 19 points, or 0.3 percent, to 6,737.

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11:45 a.m.

U.S. stocks are lower in midday trading, giving up small gains from the day before.

Several retailers were posting hefty losses Tuesday, and technology and health care companies were also lower. Energy companies fell along with the price of crude oil.

TJX Companies, the parent company of T.J. Maxx and Marshalls, slumped 5.9 percent after reporting revenue and earnings that missed analysts' estimates.

Dick's Sporting Goods dropped 6.8 percent after saying its earnings per share could drop as much as 20 percent next year.

The Standard & Poor's 500 index fell 6 points, or 0.3 percent, to 2,578.

The Dow Jones industrial average lost 53 points, or 0.2 percent, to 23,387. The Nasdaq composite index fell 18 points, or 0.3 percent, to 6,739.

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9:35 a.m.

Stocks are opening lower on Wall Street as technology companies, banks and retailers sink.

TJX Companies, the parent company of T.J. Maxx and Marshalls, slumped 4.5 percent early Tuesday after reporting revenue and earnings that missed analysts' estimates.

Dick's Sporting Goods reported a solid quarter but was down 5.9 percent after saying its earnings per share could drop as much as 20 percent next year.

The Standard & Poor's 500 index fell 10 points, or 0.4 percent, to 2,574.

The Dow Jones industrial average lost 73 points, or 0.3 percent, to 23,367. The Nasdaq composite index fell 27 points, or 0.4 percent, to 6,729.

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