Stocks edge lower, erasing early gains
Tuesday, September 27, 2011
NEW YORK (AP) -- Stocks are edging lower, erasing an early rally. Amazon.com rose as the company announced a new tablet device to rival Apple Inc.'s iPad.
Amazon.com rose 2.7 percent after the online retailer said it is launching a tablet called the Kindle Fire that will cost $199.
Stocks started the day higher after the government reported that factory orders fell less in August than analysts had predicted.
The Dow Jones industrial average slipped 12 points, or 0.1 percent, to 11,214 at 10:40 a.m. It had been up as many as 126 points earlier.
The Standard & Poor's 500 fell 5, or 0.5 percent, to 1,170. The Nasdaq fell 11, or 0.4 percent, to 2,535.