A Wall Street sign near the New York Stock Exchange. (Jin Lee / Associated Press)
U.S. stock indexes were little changed in early trading Tuesday, a day after the market closed at record highs. Investors were sizing up the latest crop of company earnings and new data on home construction and industrial production. Real estate and healthcare companies fell more than the rest of the market. Makers of consumer goods rose. The price of oil edged up.
KEEPING SCORE: The Standard & Poor’s 500 index fell 1 point, or 0.1%, to 2,403 as of 10:23 a.m. Eastern Time. The Dow Jones industrial average was little changed at 20,986. The Nasdaq composite index was up a fraction at 6,150. The S&P 500 and Nasdaq reached new highs Monday.
SPRUCED UP: Home Depot topped expectations for profit and revenue in the first quarter. The home-improvement retailer also raised its profit outlook for the year. The stock climbed 2.1% to $160.63.
DIALED IN: Sina surged 15.2% to $96.78 after the online and mobile media services company’s latest quarterly results beat Wall Street’s forecasts, thanks partly to a sharp pickup in online advertising sales.
DEFLATED: Dick’s Sporting Goods slumped 9.7% after the retailer reported quarterly results that missed analysts’ expectations. The stock slid $4.61 to $42.96.
UNFASHIONABLE: TJX Cos. fell 3.4% to $74.25 after the apparel and home fashions retailer’s quarterly results fell short of Wall Street’s forecasts.
ECONOMIC DATA: The Commerce Department said residential construction fell in April for the second month in a row, pushing activity to the lowest point in five months. Housing starts slid 2.6% to a seasonally adjusted annual rate of 1.17 million units. The weakness was led by a big drop in construction of apartments, a volatile sector.
Separately, the Federal Reserve said that industrial production at U.S. factories, mines and utilities shot up 1% in April from March. That’s the biggest gain since February 2014 and the third straight monthly gain. The increase was more than twice what economists expected.
ENERGY: Benchmark U.S. crude rose 7 cents to $48.93 a barrel. Brent crude, used to price international oils, rose 9 cents to $51.93 a barrel.
CURRENCIES: The dollar declined to 113.52 yen from Monday’s 113.68 yen. The euro rose to $1.1068 from $1.0978.
TREASURY YIELDS: Bond prices rose. The 10-year Treasury yield fell to 2.33%.
MARKETS OVERSEAS: In Europe, Germany’s DAX rose 0.2%, France’s CAC-40 was flat and London’s FTSE 100 rose 1%. In Asia, Tokyo’s Nikkei 225 and Seoul’s Kospi each rose 0.2%, and Hong Kong’s Hang Seng shed 0.1%.
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7:55 a.m.: This article was updated with market prices and context.
This article was originally published at 6:55 a.m.