Stocks Lose Footing, End Flat After Weak Home Sales, Spotty Earnings

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Stocks closed little changed on the day, giving back their earlier gains with a sharp drop in June home sales and mixed corporate earnings offsetting early strength tied to an earnings beat from Facebook ( FB ) and eight-year low in initial jobless claims. The S&P 500 touched another record high soon after the open, but the Dow Jones Industrial Average was weighed down by missed sales from component stock Caterpillar ( CAT ) and a downgrade in Boeing ( BA ) at Bank of America that caused the airplane maker to lose another 2%. The Nasdaq closed with a small loss despite a record high in Facebook and 4% gain in Pandora ( P ) ahead of its earnings release post-bell.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: FB , CAT , BA , P

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