Stocks Are Lower For The Third Straight Day
Shortly after the market open, the Dow was down 44 points, the S&P 500 was down 5 points, and the Nasdaq was down 7 points.
On Tuesday, the latest home price index report from the FHFA showed home prices rose 0.1% in July, less than the 0.5% that was expected.
We're also expecting economic reports in Markit's flash manufacturing PMI reading and the Richmond Fed manufacturing index.
Shares of Alibaba were down 2% in early trade as the Chinese e-commerce giant continues to retreat from where it opened for trade on Friday. At around $88 per share, however, the stock is still well above where its IPO priced last Thursday night.
Yahoo, which has been under pressure since Alibaba's debut, was down 1%.
Herbalife shares were up about 4% on Tuesday morning after the stock fell more than 10% on Monday into the market close.