Economics
U.S. Stocks Fall as Investors Weigh Earnings, Manufacturing Data
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U.S. stocks fell, giving the Standard & Poor’s 500 Index its first-two day drop in a month, as investors weighed global manufacturing data and earnings reports from Caterpillar Inc. and Apple Inc.
Caterpillar slipped 2.4 percent after cutting its forecast. Broadcom Corp. sank 15 percent after predicting revenue that trailed estimates. Utility shares and homebuilders tumbled amid rising interest rates. Apple advanced 5.1 percent after profit and sales topped forecasts. Ford Motor Co. rose to a 36-month high after raising its full-year earnings target. Facebook Inc. surged 19 percent after the markets closed as the company reported earnings that beat estimates.