Stocks Slip to Negative Territory on Poor Earnings

iStock/Thinkstock(NEW YORK) -- Disappointing earnings and forecasts from several big U.S. companies, including UPS and General Electric, nudged the stock market lower.

The S&P 500 fell 7 points to 1,838.70. The Nasdaq Composite gave up 21 points 4,197.58. The Dow Jones Industrial Average rose 42 points, mostly thanks to American Express and Visa.

Amex reported it's income more than doubled in the fourth quarter.

United Parcel Service warned investors its fourth quarter income would be lower than previously anticipated.

Home construction last year was the strongest since the housing bubble burst in 2007, but building slowed in December, dropping nearly 10 percent compared to November.

Freedom Industries the company blamed for the chemical spill that left 3 hundred thousand west virginians without tap water for nearly a week has filed for bankruptcy.

Copyright 2014 ABC News Radio

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