Stocks Succumb to Late Selloff

Also, the National Federation of Independent Business reported that its small-business optimism index rose to 93.1 in October from 92.8 in September, compared with the average analyst expectation of a print of 92.5.

The federal budget for October came in at a deficit of $120 billion, wider than expectations for a $113 billion deficit.

The FTSE 100 in London settled up 0.32%, while the DAX in Germany finished up 0.08% on Tuesday. Japan's Nikkei average settled down 0.18% and Hong Kong's Hang Seng closed lower by 1.13%.

The ZEW German economic-expectations index showed a decline in November versus the forecasts for an improvement.

Gold for December delivery slid $6.10 to settle at $1,724.80 an ounce at the Comex division of the New York Mercantile Exchange, while December crude oil contracts fell 19 cents to close at $85.38.

The benchmark 10-year Treasury was unchanged, stalling the yield at 1.594%. The dollar was up incrementally, according to the U.S. dollar index.

In corporate news, Dick's Sporting Goods (DKS) shares rose 4.7% after the company announced better-than-expected third-quarter earnings. Same-store sales grew 5.1%.

Michael Kors (KORS) shares bumped up 0.85% after the luxury goods maker reported better-than-expected quarterly results and lifted its full-year earnings projection, and reported strength in its flagship brand.

Yahoo! (YHOO) is preparing to launch a major overhaul of Yahoo Mail, which sources told AllThingsD said has a cleaner, "more Gmail-like" look.

Citing sources, AllThingsD said the overhaul has been initiated by new CEO Marissa Mayer and is being made to better compete with the fast-growing mail offering from Google. Shares rose 1.9%.

TJX (TJX) shares gained 2.7% after the off-price apparel and home fashions retailer increased its full-year projection by a penny after topping third-quarter expectations. The company said customer traffic was up at all divisions in the U.S., Canada and Europe, driving comparable-store sales increases.

Shares of Hologic (HOLX) slid 0.69% after the medical products supplier catering to the health care needs of women provided lower-than-expected current quarter outlook and reported earnings per share that were in line with estimates

-- Written by Andrea Tse and Joe Deaux in New York.



>To contact the writer of this article, click here: Andrea Tse.

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