US stocks lost ground overnight as a stronger dollar and disappointing economic data relating to housing and inflation prompted investors to book in recent gains.
The Dow Jones industrial average fell 51 points to 10,041. The S&P500 Index lost 7 points to 1,091 and the NASDAQ dropped 13 points to 2,163.
Looking closer at that economic news.The Commerce Department said that housing starts rose to 590,000 in September, versus 587,000 in August. While building permits, a measure of builder confidence, fell to 573,000 in September from 580,000 the month before.
The Producer Price Index (PPI), a measure of wholesale inflation slipped 0.6% in September versus a 1.7% increase the previous month. Core PPI, which strips out volatile food and energy prices, fell 0.1% after rising 0.2% in the previous month.
In company news: Caterpillar (NYSE:CAT) shares rose 3.04% to $59.61 and hit a 12-month high as the machinery maker's third-quarter earnings soared past expectations.
DuPont (NYSE:DD) shares fell 2.17% to $33.87, making it a top drag in the S&P materials sector and the Dow industrials after the chemical maker posted higher-than-expected third-quarter profit, but revenue fell short of Wall Street estimates.
Coca-Cola (NYSE:KO) shares lost 1.31% to $54.07 after reporting sales that missed expectations.
Apple (NASDAQ:AAPL) shares gained 4.69% to $198.76. The iphone maker posted earnings and sales that were higher than expected in quarterly results released after Monday's closing bell. While overnight, brokerages reacted and lifted their price targets on Apple to as much as $280, implying a gain of about 40% from current levels.
Checking the NASDAQ Top 100: The best performer was Apple, followed by Apollo Group, which added 2.18% to $75.52 and also closing stronger was Cognizant Technology Solutions. Millicom International. The worst performing overnight was Millicom International which fell 5.95% to $73.45. Hologic and Vertex Pharmaceuticals also finished lower.
