Caterpillar trimmed its forecast for the year after reporting a first-quarter loss. DuPont reported that a drop in demand cut earnings 59 percent. Pharmaceutical giant Merck also cut its expectations for the year, The Wall Street Journal reported.
In midmorning trading, the Dow Jones industrial average fell 0.02 percent, 1.92 points, to 7,839.81. The Standard & Poor's 500 gained 0.1 percent, 0.85 points, to 833.24. The Nasdaq composite index rose 0.85 percent, 13.72 points, to 1,621.93.
The benchmark 10-year U.S. Treasury bond rose 13/32 to yield 2.807 percent.
The euro rose to $1.2957, compared to Monday's $1.2924. Against the Japanese yen, the dollar rose to 98.10 yen, compared to Monday's 97.84 yen.
In Tokyo, the Nikkei average dropped 213.42 points to 8,711.33, off 2.39 percent.
Copyright 2009 by United Press International.
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