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Surprise Drop In Housing Data Checks Market's Rise

Stock quotes in this article: AXP , BTU , COF , HD , LOW , PPL  

MADLEN READ

NEW YORK (AP) — A record low in housing construction has investors doubting the economy again.

Stocks closed narrowly mixed in light trading Tuesday as the surprise drop in construction and a cautious outlook from retailer Home Depot Inc. led energy and utility stocks to pare gains.

Construction of homes and apartments fell 12.8 percent last month to the lowest pace on records going back a half-century, the Commerce Department said. Analysts had expected housing starts to rise. ...

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