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Stocks modestly lower...awaiting Cisco earnings....
New York-AP -- Stock prices are edging lower in the early going. The Dow Jones Industrial Average is down about 16 points in today's early going. Decliners hold a nine-to-eight lead over advancers on the New York Stock Exchange.
The Nasdaq Composite Index is off four points and the Standard-and-Poor's 500 Stock Index is down two points.
Investors have to look more closely for scheduled market-moving news this week, after the busy series of earnings and economic reports seen last week.
Ahead today, the Institute for Supply Management is due to release a survey assessing the status of the services sector of the economy. The report, covering the month of July, is expected to show growth.
After the closing bell, computer networking equipment giant Cisco Systems is to report quarterly earnings. The results are closely watched as an indication of demand in the technology sector.
Already this morning, Gillette has reported that earnings rose 15 percent in the most recent quarter. The company topped analyst estimates on a per-share basis.
Copyright 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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