Stocks open lower on lackluster earnings reports

Bank of New York Mellon Corp., Caterpillar Inc. and DuPont have posted results or issued forecasts Tuesday that are short of what the market expected.

Wall Street is unnerved because analysts had set expectations low after a bruising January that saw fourth-quarter results short-circuit a stock market rally.

In the first minutes of trading, the Dow is down 45 at 7,796. The Standard & Poor's 500 index is down 5 at 827, while the Nasdaq composite index is down 7 at 1,601.