NEW YORK (AP) — Early gains on Wall Street were vanishing following lower profits from technology companies and a steep drop in oil prices.
The Dow Jones industrial average was up 18 points to 12,755 in midday trading Tuesday. It was up 94 shortly after the opening bell.
The broader Standard & Poor's 500 slipped less than two points to 1,351. The Nasdaq dropped 10 points to 2,922.
Chip maker Applied Materials fell sharply after reporting that a slowdown in China and Europe led to an 11 percent slump in second-quarter revenue. The company had previously forecast a gain of 3 percent. Other technology companies also fell.