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U.S. stocks retreat amid mixed earnings reports

Xinhua, October 26, 2016 Adjust font size:

U.S. stocks ticked down Tuesday as Wall Street digested a slew of earnings reports from notable companies.

The Dow Jones Industrial Average fell 53.76 points, or 0.30 percent, to 18,169.27. The S&P 500 lost 8.17 points, or 0.38 percent, to 2,143.16. The Nasdaq Composite Index was down 26.43 points, or 0.50 percent, to 5,283.40.

Shares of Whirlpool Corp. sank 10.78 percent to 152.09 U.S. dollars apiece Tuesday after the U.S. appliance maker reported worse-than-expected quarterly results and issued a downbeat outlook.

Merck & Co., Inc. rose 1.98 percent to 61.95 dollars apiece Tuesday after the drug maker posted third-quarter earnings report that beat market estimates.

Shares of Procter & Gamble jumped 3.41 percent to 86.97 dollars apiece Tuesday following the release of the consumer goods giant's better-than-expected quarterly results.

Shares of Caterpillar Inc. dipped 1.76 percent to 84.48 dollars apiece Tuesday as the construction and mining equipment maker lowering its full-year revenue outlook for the second time.

The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the third quarter of 2016 are expected to rise 1.7 percent year on year, while the revenues are forecast to increase 2.7 percent.

On the economic front, the Conference Board Consumer Confidence Index declined from 103.5 in September to 98.6 in October, missing market consensus. Enditem