Stocks slip ahead of reports; Walgreen sinks

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Associated Press

Posted on June 24, 2014 at 10:01 AM

Updated Tuesday, Jun 24 at 10:05 AM

NEW YORK (AP) — Stocks are opening slightly lower ahead of reports on new homes sales and consumer confidence.

U.S. markets are still hovering near all-time highs.

Walgreen fell 2 percent in early trading after the nation's largest drugstore chain reported earnings that missed Wall Street's expectations.

Vertex Pharmaceuticals soared 38 percent after saying its treatment for cystic fibrosis appeared to work better than a placebo in a late-stage study.

The Dow Jones industrial average fell four points to 16,932 in the first few minutes of trading Tuesday.

The Standard & Poor's 500 index lost a point to 1,961. The Nasdaq composite edged up six points, or 0.2 percent, to 4,375.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.60 percent.

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