Stocks fell Tuesday, though the Dow industrials remained above 10,000, as a stronger U.S. dollar and disappointment about DuPont and Coca-cola's quarterly results gave investors a reason to retreat from the recent rally. A weaker-than-expected U.S. housing report added to the negative pressure on stocks. The U.S. dollar gained versus the euro and the yen, reversing direction after its recent decline versus a basket of leading currencies. Light sweet crude oil for November delivery fell 52 cents to $79.09 a barrel on the New York Mercantile Exchange, after ending the previous session at the highest level in a year. Gold for December delivery rose 50 cents to $1,058.60 an ounce. In economic news, U.S. housing starts rose a smaller-than-expected 0.5 percent in September, while building permits—considered a gauge of builder confidence—rose only slightly, far below analysts' expectations. A second government report showed U.S. wholesale inflation fell 0.6 percent last month. “Core” wholesale inflation, which excludes volatile energy and food costs, fell 0.2 percent. The Dow Jones industrial average fell 50.71, or 0.5 percent, to 10,041.48. DuPont reported higher third-quarter profits on weaker revenue, and shares of the chemical maker fell 2.7 percent. Coca-Cola reported modestly higher profits on weaker revenue, and shares of the soft-drink giant fell 1.2 percent. Pfizer reported higher profits and weaker revenue, and shares of the pharmaceutical company were little changed. Caterpillar reported weaker profits and weaker revenue, but the heavy-equipment maker also raised its full-year profit forecast, and its shares gained 3.5 percent. United Technologies reported weaker profits and revenue, and shares of the defense contractor fell slightly. The broader Standard & Poor's 500 index fell 6.85, or 0.6 percent, to 1,091.06. The technology-heavy Nasdaq composite index fell 12.85, or 0.6 percent, to 2,163.47. Apple reported better-than-expected profit and revenue late Monday, and its shares rose 4.75 percent Tuesday to trade at just over $200 per share. The New York Stock Exchange composite index fell 63.94 to 7,158.27. The New York Stock Exchange composite index fell 18.29 to 1,860.55. And the Russell 2000 index fell 8.93 to 613.41.
