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Posted: Tuesday, 12 November 2013 6:15PM

Stocks Drop from Record Highs



iStock/Thinkstock(NEW YORK) -- U.S. stocks moved lower Tuesday as investors reacted to some disappointing earnings reports.

Tesla fell nearly 5 percent, cutting gains from Monday.  A third reported car fire and last week's earnings pulled the company's shares lower.
 
The Dow Jones Industrial Average closed down 32 points on Tuesday at 15,750.67. The Nasdaq Composite rose a fraction of a point to 3,919.92. The S&P 500 gave up 4 points to close at 1,767.69.
 
Airline stocks rose after the Justice Department cleared the way for the merger of American and US Airways.
 
More Americans are paying their mortgages on time. Credit reporting agency Transunion says the percentage of homeowners at least two months behind fell to just over four percent from July to September.

Copyright 2013 ABC News Radio


 
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