Stocks React to Housing Data and Earnings Momentum, Fed Meeting and Chinese Factory Data

The Dow Jones Industrial Average briefly dropped 125 points on Tuesday as better-than-expected housing data and the start of the Federal Reserve's two-day meeting influenced market sentiment. Tesla stock continued to fall, while CAT stock dived on earnings results. The Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index both exceeded expectations. Meanwhile, several companies, including Amgen, Arista Networks, Caterpillar, Lattice Semiconductor, Monolithic Power, Pinterest, and Pfizer, reported earnings. The Dow Jones Industrial Average dropped slightly, while the S&P 500 inched higher, and the Nasdaq composite lost ground. Oil prices saw a modest bounce, and the yield on the 10-year U.S. Treasury bond ticked lower.