RPT-US STOCKS-Indexes flat after wave of earnings

(Repeats to additional subscribers)

* Bristol-Myers, Texas Instruments fall on outlooks

* August home prices fall, Oct. consumer confidence up

* Indexes: Dow off 0.02 pct, S&P off 0.08, Nasdaq up 0.3

* For up-to-the-minute market news see [STXNEWS/US]
(Updates to late afternoon, changes byline)

By Chuck Mikolajczak

NEW YORK, Oct 26 (BestGrowthStock) – U.S. stocks (Read more about the stock market today. ) were little
changed on Tuesday as investors held steady under a raft of
earnings in anticipation of next week’s U.S. elections and
likely announcement of a new economic stimulus program from the
Federal Reserve.

The broader equities market edged lower after weak revenue
forecasts from drugmaker Bristol-Myers Squibb Co (BMY.N: ) and
chip manufacturer Texas Instruments Inc (TXN.N: ). For details,
see [ID:nN25263304] and [ID:nN25274454]

Bristol-Myers fell 1.5 percent to $26.74 and Texas
Instruments shed 0.4 percent to 28.86. The NYSE Arca
Pharmaceutical index (.DRG: ) lost 1 percent and the PHLX
Semiconductor index (.SOX: ) dipped 0.4 percent.

But losses were curbed by gains in the consumer
discretionary sector, after The Conference Board’s measure of
U.S. consumer confidence rose more than expected. The S&P
Consumer Discretionary index (.GSPD: ) rose 0.5 percent, led by a
13.2 percent jump in Coach Inc (COH.N: ) after the upscale
leather goods maker posted better-than-expected results.
[ID:nN26127639] [ID:nN19229939]

The mixed bag of earnings deterred investors from moving
into or out of riskier assets in light of the uncertainty
provided by next week’s events, which could include election
results that lead to political gridlock and the expected
stimulus from the Fed.

“You have a double whammy next week, Election Day and the
Fed announcement,” said Doug Roberts, chief investment
strategist at Channel Capital Research.com in Shrewsbury, New

“You’ve got a huge overhang. Earnings are important, but
they are not going to be the driving force.”

The Dow Jones industrial average (.DJI: ) shed 1.86 points,
or 0.02 percent, to 11,162.19. The Standard & Poor’s 500 Index
(.SPX: ) slipped 0.99 points, or 0.08 percent, to 1,184.63. The
Nasdaq Composite Index (.IXIC: ) gained 7.27 points, or 0.29
percent, to 2,498.12.

U.S. Steel Corp (X.N: ), AK Steel Holdings Corp (AKS.N: ) and
ArcelorMittal, the world’s No. 1 steelmaker (MT.N: )(ISPA.AS: ),
all sold off after reporting results. Both U.S. Steel and
ArcelorMittal also forecast a soft patch extending to the end
of the year.[ID:nLDE69P1J5]

U.S. Steel shed 3.7 percent to $40.69, while AK Steel
slumped 4.1 percent to $12.82. The S&P Materials index (.GSPM: )
dipped 0.4 percent.

DuPont and Co’s (DD.N: ) earnings beat expectations and the
chemicals giant raised its full-year profit view. Still, shares
of the Dow component fell 1.6 percent to $46.95 after hitting a
two-year high on Monday. [ID:nN26116954]

Tuesday’s gainers included Ford Motor Co (F.N: ) rose 1.4
percent to $14.35 and touched a six-month high after quarterly
profit topped estimates and it paid down a big chunk of debt.

Dow component International Business Machines Corp (IBM.N: )
added 0.5 percent to $140.56 after boosting its stock buyback
program. [ID:nN26132474]

Earlier, data showed single-family home prices fell for the
second straight month in August, hovering near recent lows
after the expiration of homebuyer tax credits. [ID:nN2649346]
(Editing by Padraic Cassidy)

RPT-US STOCKS-Indexes flat after wave of earnings