Stocks open lower as earnings season begins

Investors sent stocks lower ahead of the release of corporate earnings that Wall Street will digest in coming weeks.

The Dow Jones industrial average lost 48 points, or 0.4%, to 13,336 shortly after the opening bell.

The broader Standard & Poor’s 500 index lost seven points, or 0.5%, to 1,455. The Nasdaq was down nine points, or 0.3%, to 3,090.

Earnings season unofficially begins with aluminum giant Alcoa Inc., which is to release earnings after the markets close Tuesday.

Companies in the S&P; 500 are expected to report average fourth-quarter earnings growth of 3.3%, according to S&P; Capital IQ.

Though still positive, that’s lower than the 9.6% average earnings growth estimated as of Oct. 1.

Twenty-two companies have already released earnings for the quarter, according to S&P; Capital IQ. Of those, 14 have beaten analysts’ estimates. Six have missed and two have met expectations.

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