26.10.201604:15:00UTC+00U.S. Stocks Lower on Mixed Earnings Reports

U.S. stocks traded lower as consumer-discretionary shares led declines after several disappointing earnings reports. Consumer-discretionary firms led losses in the S&P 500 with a 1.2 percent decline, which is the sector's largest drop since Sept. 13.

The Dow Jones Industrial Average was down 0.3 percent to 18169.27. The S&P 500 fell 0.4 percent to 2143.16 while the Nasdaq Composite retreated 0.5 percent to 5283.40. Under Armour Class A shares dropped 13 percent to $32.89 after it reduced its growth expectations. Whirlpool slid 11 percent to 152.09 and General Motors fell 4.2 percent to 31.60. The largest percentage decliner in the Dow industrials was Home Depot losing 3.5 percent to 123.34. Shares of Caterpillar was down 1.8 percent to 84.48 after the firm said it expects economic weakness to cause pressure on the business next year. Lockheed Martin jumped 7.4 percent to 249.26 after the firm said it expects an increase in sales growth in 2017. The largest gainer in the Dow industrials was Procter & Gamble, rising 3.4 percent to 86.97 after it recorded an increase in profit.