Stocks fall ahead of earnings season

January 10, 2011 at 10:03a.m.

NEW YORK (AP) — Stocks are falling in early trading ahead of the start of the latest round of major corporate earnings reports. Alcoa Inc. will kick off the fourth quarter earnings season by releasing its results after the market closes today.

Investors are starting the week with news of two large corporate deals. DuPont said that it is buying a Danish food maker for $5.8 billion. Separately, Duke Energy said it will buy Progress Energy in a $13 billion plus deal that will create one of the nation’s largest utility companies.

After the opening bell, the Dow Jones industrial average is down 61, or 0.5 percent, to 11,612. The S&P 500 is off 7, or 0.6 percent, to 1,264. The Nasdaq composite is down 16, or 0.6 percent, to 2,687.