U.S. Stocks Poised to Give Up 2007 Gains; Dow Falls on Boeing

Jan. 22 (Bloomberg) -- The U.S. stock market was poised to give up all of its gains this year after Motorola Inc. and Boeing Co. tumbled on concern weaker demand will crimp earnings.
The Dow Jones Industrial Average dropped the most in two months, putting it within 0.1 percent of where it started 2007, led by Boeing, the second-largest commercial-jet maker. Motorola paced a fifth day of declines in technology shares, leaving the Standard & Poor's 500 Index within 0.3 percent and the Nasdaq Composite Index within 0.7 percent of where they began.
The retreat nearly erased the Dow and S&P 500's rise of as much as 1.2 percent since Jan. 1. Declines picked up pace last week after earnings reports from Intel Corp. and International Business Machines Corp. suggested analysts' profit estimates are too high.