Markets Slide Lower; Home Builder’s Index Rises
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Ben Hider/Getty Images(NEW YORK) — A string of lackluster earnings reports on Tuesday pushed the markets down.
The Dow Jones Industrial Average closed down 32.41 points at 15,451.85. The Nasdaq Composite gave up 8.99 points, closing at 3,598.50. The S&P 500 lost six points to finish the session at 1,676.26.
Shares of Coca-Cola dropped 1.9 percent after the company reported a weak second-quarter.
General Motors’ global sales grew almost four percent in the first half of the year, on pace to top last year’s numbers.
Meanwhile, it’s a good time to be in home construction. The National Association of Home Builders/Wells Fargo builder sentiment index jumped to 57 this month, up from 51 in June. This month the index hit its highest point since January of 2006, well before the housing market collapsed. A reading above 50 is considered positive.
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