Stocks lower in morning after sizable gains the day before
NEW YORK (AP) — Stocks are mostly falling Tuesday morning as investors sift through new economic reports and company earnings.
Utilities and consumer goods companies fell the most after the market made sizable gains the day before.
Earnings per share, adjusted for one-time gains and costs, came to 44 cents versus the 39 cents analysts expected.
The Federal Reserve will weigh the inflation figures when it meets in June to decide whether to increase interest rates.
U.S. industrial production posted the biggest increase in April since November 2014 after dropping the previous two months.
THE QUOTE: "We've got an economy in slow-down mode, with an increase in inflation," said James Abate, chief investment officer at Centre Funds.
Builders ramped up construction of new homes in April, suggesting the market remains solid despite sluggish economic growth.
Housing starts climbed 6.6 percent to a seasonally adjusted annual rate of 1.17 million units.