Stocks end mostly lower, extend losing streak C

Stocks end mostly lower , extend losing streak
Consumer confidence drops, but home prices rise
NEW YORK (MarketWatch) — U.S. stocks ended mostly lower, with the Dow Jones Industrial Average and the S&P 500 extending their losing streaks to four days, as a drop in consumer confidence and worries over a Washington debt-ceiling fight outweighed a rise in home prices and easing concerns over the Middle East.

The Dow Jones Industrial Average (DJI JIA) dropped 66.79 points, or 0.4%, to close at 15,334.59, while the S&P 500 (SNC:SPX) shed 4.42 points, or 0.3%, to 1,697.42..

Visa Inc. (NYSE:V) , Verizon Communications (NYSE:VZ) and J.P. Morgan Chase & Co. (NYSE:JPM) led the Dow lower. Visa and Verizon each lost 1.5%, while J.P. Morgan posted a 2.2% drop.

The Wall Street Journal reported that J.P. Morgan and the Justice Department have expanded talks to include a number of pending probes, with the bank offering potentially billions of dollars to end intense legal scrutiny. A news report late Monday said the bank could face another government lawsuit over sales of mortgage-backed securities.

The Nasdaq Composite index (NASDAQ:COMP) , meanwhile, held on to a 3 point rise to finish at 3,768.25, halting a two-day losing streak. Applied Materials inc. (NASDAQ:AMAT) surged 9.1% after it agreed to buy Tokyo Electron Ltd. for $9.3 billion.

The Conference Board’s consumer confidence index for September dropped to 79.7 in September from a revised 81.8 in August. Economists polled by MarketWatch expect a fall to 79.5 from 81.5.

Earlier Tuesday, U.S. stock-index futures had added to slight gains after the latest data on U.S. home prices. The S&P Case-Shiller index rose 1.8% in July for the smallest monthly gain since March, suggesting the rate of increases may have peaked, while the Federal Housing Finance Agency’s index gained 1% in July.

The market also digested a speech by President Barack Obama before the U.N. General Assembly on Tuesday. He may have soothed some worries about Mideast tensions, saying the U.S. was committed to finding diplomatic solutions for the Syria conflict and for the ongoing dispute with Iran over its nuclear program. http://www.marketwatch.com/story/stocks-wobbl...=afterbell