Dow Notched 6th Straight Record Close

U.S. stocks ended mostly lower on Tuesday, but the Dow Jones Industrial Average recorded its sixth straight record close, following a series of weak earnings reports. The Dow industrials gained 25.96 points, or 0.14%, to 18,559.01. The S&P 500 shed 3.11 points, or 0.14%%, to 2,163.78. The Nasdaq Composite slipped 19.41 points, or 0.38%, to 5,036.37.

Housing starts jumped in June but from downwardly-revised levels earlier in the year. Starts were up 4.8% to a seasonally adjusted annual pace of 1.19 million, the Commerce Department said Tuesday.

Oil futures edged lower in electronic trading Tuesday, holding ground at a 10-week low, after the American Petroleum Institute reported that U.S. crude supplies fell by 2.3 million barrels for the week ended July 15. August crude was at $44.56 a barrel in electronic trading, down a bit from the contract’s settlement of $44.65 on the New York Mercantile Exchange.

Treasurys rose modestly Tuesday, nudging yields marginally lower, after a relatively upbeat report on the U.S. housing market. The yield on the 10-year note declined 2.7 basis points to 1.558%. Meanwhile, the yield on the two-year note slipped 0.4 basis point to 0.694%.

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