Stock markets fell Tuesday as investors speculated that the Federal Reserve would continue to raise interest rates. Stocks initially rose on positive economic reports but fell off as the day wore on.
On Monday, the market ended a seven-day winning streak; a five-week rally has carried the Standard & Poor's 500-stock and Nasdaq composite indexes to four-year highs.
The Dow Jones industrial average fell 2.56, or 0.02 percent, to 10,888.16. The S&P 500 was up 0.02, at 1257.48. The Nasdaq fell 6.66, or 0.3 percent, to 2,232.71.
Crude-oil futures turned lower with mild weather in the Northeast, although temperatures are expected to plunge later in the week. A barrel of light crude fell 86 cents to settle at $56.50 on the New York Mercantile Exchange.
Tuesday's government reports offered encouraging signs about the economy. The Commerce Department said orders for big-ticket manufactured goods rose 3.4 percent in October, with increased demand for military aircraft and parts accounting for more than half of the $7.1 billion gain.
The department also said new-home sales rose 13 percent to an annual rate of 1.42 million in October, beating forecasts for 1.2 million and a previous July record of 1.35 million. A recovery in the Western housing market led the growth, the department said.
Pulte Homes rose 30 cents, to $41.85. Centex rose 4 cents, to $72.70.
D.R. Horton fell 7 cents, to $35.50. Lennar fell 21 cents, to $57.44.
Google fell $19.94, to $403.54. An analyst downgraded Google from "buy" to "hold."
Yahoo fell 92 cents, to $40.19.
Amazon.com rose 20 cents, to $48.55.
Anheuser-Busch rose 69 cents, to $44.70. The brewer said it still expects full-year earnings to decline 10 to 11 percent but that profit would increase again next year.
Calpine fell 71 cents, to 54 cents, after the power producer said its chief executive and founder left the company.
New York Stock Exchange composite index rose 5.57, to 7692.99.
American Stock Exchange index fell 1.16, to 1696.69.
Russell 2000 index of smaller-company stocks rose 2.19, to 673.69.
NYSE: 2.26 billion shares, up from 2.03 billion on Monday. Advancers outnumbered decliners 3 to 2.
Nasdaq: 1.78 billion shares, up from 1.58 billion. Advancers narrowly outnumbered decliners.
Crude oil for January delivery: $56.50, down 86 cents.
Gold for current delivery: $499.10 a troy ounce, up from $498.30 on Monday.