NEW YORK — The stock market drifted lower to start the week as more companies line up to post their quarterly earnings. Hasbro and Six Flags sank after turning in disappointing results, while concerns over tensions between Russia and the West also occupied investors' attention.
KEEPING SCORE: The Standard & Poor's 500 index fell nine points, or 0.4 percent, to 1,970 as of 11:53 a.m. Eastern time.
The Dow Jones industrial average fell 89 points, or 0.5 percent, to 17,010, while the Nasdaq composite lost 16 points, or 0.4 percent, to 4,417.
WHAT'S HAPPENING: "It looks like we hit a speed bump," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. "Earnings are coming through quite nicely so far, but geopolitics trump earnings today."
EUROPE: European leaders discussed imposing tougher sanctions on Russia for its backing of separatists in Ukraine accused of shooting down a Malaysia Airways passenger plane last week. Major stock markets in Europe headed lower. Germany's DAX dropped 1.1 percent while France's CAC-40 lost 0.7 percent. Britain's FTSE 100 slipped 0.3 percent.
HASBRO: The toy maker Hasbro turned in second-quarter earnings and revenue that fell short of analysts' targets. Rising sales of My Little Pony, Transformers and other toys weren't enough to stem a decline in sales of games such as Twister. Hasbro's stock sank $1.33, or 3 percent, to $51.87.
AMUSEMENT: Six Flags Entertainment reported higher profits and sales in the second quarter, but the theme-park operator's revenue came up short of what analysts had expected, partially a result of sluggish attendance. Six Flags slumped $2.97, or 7 percent, to $38.03.
DRILLING: Halliburton, the oil and gas servicing company, said that its second-quarter earnings rose 20 percent and that it plans to buy up to $6 billion of its own shares. Revenue came in higher than analysts' estimates. Halliburton's stock rose 42 cents, or 0.6 percent, to $71.35.
EARNINGS PARADE: Nearly a third of the companies in the S&P 500 index will hand in their quarterly results this week, including heavyweights such as Apple on Tuesday, Boeing on Wednesday and Amazon on Thursday. Chipotle Mexican Grill and Netflix will post quarterly earnings after the close of regular trading on Monday.
BONDS AND OIL: Prices for U.S. government bonds rose. The yield on the 10-year Treasury note fell to 2.45 percent from 2.48 percent late Friday. Benchmark U.S. crude oil rose 25 cents to $102.16 a barrel on the New York Mercantile Exchange.
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