Stocks of earnings reporters are shaving more than 130 points off the Dow’s price

Shares of companies that reported earnings can be blamed for the Dow Jones Industrial Average’s early weakness, as cutting the Dow’s price by 132 points. Meanwhile, Dow futures fell 60 points, or 0.2%, while futures for the S&P 500 rose 0.1%. Shares of Boeing Co. fell 1.4% after the aerospace and defense giant reported a wider-than-expected first-quarter loss, with the implied price decline acting as a 23-point drag on the Dow. Microsoft Corp.’s stock pulled back 2.6%, even after the software behemoth’s fiscal third-quarter results beat expectations, with the implied price drop shaving about 45 points off the Dow. And Amgen Inc. shares slid 3.8% after the biotechnology company’s first-quarter profit missed expectations, with the implied price decline reducing the Dow’s price by 64 points.

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