US STOCKS-Indexes slip on earnings, housing data

* Goldman posts lower earnings, revs

* June housing starts fall more than expected

* Indexes off: Dow 0.7 pct, S&P 0.5 pct, Nasdaq 0.9 pct

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

By Caroline Valetkevitch

NEW YORK, July 20 (BestGrowthStock) – U.S. stocks (Read more about the stock market today. ) declined on
Tuesday as quarterly corporate results again disappointed on
revenues, but indexes eased from session lows.

Goldman Sachs Group Inc (GS.N: ) edged up 0.2 percent to
$146, erasing early losses, despite posting lower
second-quarter earnings and revenue. For details, see
[ID:nN19184420]

Housing starts fell more than expected in June, the
government said, but applications for building permits topped
forecasts.

“It’s not surprising that housing starts declined, given
the significant inventory of unsold homes, and until that
inventory of unsold homes comes down, we’re not likely to see
improvement in starts,” said Hugh Johnson, chief investment
officer of Hugh Johnson Advisors LLC in Albany, New York.

“The encouraging number is the permits, which showed up a
slight increase.”

The Dow Jones home construction index (.DJUSHB: ) added 1.8
percent.

The Dow Jones industrial average (.DJI: ) was down 72.65
points, or 0.72 percent, at 10,081.78. The Standard & Poor’s
500 Index (.SPX: ) dipped 5.21 points, or 0.49 percent, at
1,066.04. The Nasdaq Composite Index (.IXIC: ) fell 18.92 points,
or 0.86 percent, at 2,179.31.

International Business Machines Corp (IBM.N: ) fell 4 percent
to $124.86 a day after reporting revenues rose but still missed
estimates as new technology services contracts declined.
[ID:nN19191611]

All three indexes were down more than 1 percent shortly
after the opening.

Apple (AAPL.O: ) shares also rose 0.3 percent to $246.25
ahead of earnings after the bell

Stock Market Basics

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(Editing by Jeffrey Benkoe)

US STOCKS-Indexes slip on earnings, housing data