(NEW YORK) — Weak corporate earnings led to another day of losses for stocks on Tuesday. The Dow tumbled, losing more than 100 points for a third straight session.
The Dow closed down 104.14 points at 12,617.32. The Nasdaq lost 27.16 points, closing at 2,862.99. The S&P, pulled down by all 10 of its sectors, gave up 12.21 points, settling at 1,338.31 at Tuesday’s close.
The Dow fell almost 200 points earlier Tuesday, but rallied back some on a Wall Street Journal report that Federal Reserve officials could intervene to help support the economy.
In housing, real estate website Zillow says home prices rose in the second quarter slightly over the same period of time last year. It’s the first instance of an increase like that in five years. Economists say that could be a sign that the housing market has bottomed out. The real estate data firm DataQuic, says the number of California homes entering foreclosure also hit a five-year low.
Copyright 2012 ABC News Radio
Magdala Louissaint, KPVI
Aaron Smith and Evan Perez, CNM