Mixed reports on the economy and earnings Monday sent the stock market drifting lower and easing off a two-week rally that lifted major indexes 11 percent. A government report said sales of new homes in the U.S. rose by the largest amount in nearly nine years last month, but it also contained troubling news that home prices fell sharply from a year earlier. Stocks got an early lift from the report but quickly gave up the gains.
The latest batch of corporate earnings offered a mix of news.
RadioShack Corp. reported higher second-quarter earnings that beat forecasts, but mainly from cost-cutting _ a theme that has become familiar this earnings season. Health insurer Aetna Inc. and manufacturer ...