Stock Opened Lower as Dollar Stumbled

U.S. stocks opened lower on Tuesday, as the dollar tumbled and fresh consumer-price data showed U.S. inflation remains tepid. The Dow Jones Industrial Average lately retreated 56.46 points, or 0.30%, to 18,579.59. The S&P 500 gave up 7.98 points, or 0.36%, to 2,182.17. The Nasdaq Composite slipped 22.72 points, or 0.43%, to 5,239.30.

The cost of consumer goods was unchanged in July, as inflation remains tepid for nearly everything Americans buy. The consumer price index rose 0.8% compared to a year ago, the Labor Department said Tuesday.

Output at the nation’s mines, utilities and factories rose more than expected in July, according new government data released Tuesday.A report from the U.S. Federal Reserve showed that industrial production rose by 0.7 percent in July.

Home Depot Inc. on Tuesday posted sales and profit growth as the growing housing market continued to bolster results. In all for the second quarter, Home Depot reported a profit of $2.44 billion, or $1.97 a share, up from $2.23 billion, or $1.73, a year prior. Revenue climbed 6.6% to $26.47 billion.For 2016, the company now projects earnings of $6.31 a share, up from its previous guidance of $6.27 a share. It continues to expect sales to increase 6.3%.

Univision has offered to acquire Gawker Media, challenging a $90 million stalking horse bid from media company Ziff Davis in the auction for the U.S. internet publisher, people familiar with the matter said.

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