NEW YORK — Stocks fell in light trading for a second day on Thursday as investors sifted through a mix of earnings reports.
The major indexes wavered between small gains and losses in the morning, then moved lower in the afternoon as investors dumped health care stocks. Disappointing earnings from a few retailers helped push down stocks of companies that rely on consumer spending.
The losses were modest, and both the Standard & Poor’s 500 index and Dow Jones industrial average remain close to their record highs hit last week. Many investors are holding back from big bets now that the bulk of earnings reports are out and many traders are still on vacation. Only 2.9 billion shares traded hand on the New York Stock Exchange, a very low level.
“We’re in an information vacuum,” said Joseph Tanious, senior investment strategist at Bessemer Trust.