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Dow Goes Up, Nasdaq Falls on Mixed Data

Stocks close mixed after disappointing consumer data but an improvement in home prices. Gregg Greenberg recaps the day in The Real Story.

(Updated with stock prices.)



) -- The

Dow Jones Industrial Average


S&P 500

pulled out wins Tuesday, but Internet company


(BIDU) - Get Free Report

dragged on the tech-heavy



The major averages were mixed most of the day as a stock buyback and promising home-price data weighed against an unexpected drop in consumer confidence.

Ultimately, the Dow rose 14.21 points, or 0.1%, to 9882.17, while the S&P 500 gave up 3.54 points, or 0.3%, to 1063.41. The Nasdaq fell 25.76 points, or 1.2%, to 2116.09.

"Taking a bigger picture look at the market, clearly we've had a tremendous rally up but if you look at some technical levels, the S&P up around 1100 is a big deal, the 10,000 level on the Dow is also a pretty big deal, and 2200 on the Nasdaq was a level of support last year, and now we're back up against it," says Ryan Detrick, senior technical strategist at Schaeffer's investment research.

"So all three major indices are up against longer term levels of resistance," says Detrick, adding that "at Schaeffer's we're bullish and do eventually expect those levels to give, but in the near term they're providing a little problem."

The Dow was bouyed after


(IBM) - Get Free Report

, which ultimately gained just 0.5%, said its board of directors has authorized another $5 billion in funds to be used for stock repurchases.

Elsewhere, China's leading Internet search company, Baidu, fell 11.5% after posting a 42% increase in quarterly profit but warning of a "temporary negative impact" on fourth-quarter revenue as it transitions to a new marketing system.

Among day's other movers, European oil giant


(BP) - Get Free Report

rose 4.25 after topping forecasts despite a 34% decline in profit on lower oil prices.



(HMC) - Get Free Report

-- up 5% -- raised its full-year profit forecast despite a 56% drop in profit last quarter, expecting fuel-efficient-car incentives and growth in China to bolster sales.

Outside of earnings, economic data gave a mixed view as consumer confidence fell unexpectedly, but home prices continued to improve.

Confidence declined to 47.7 points, vs. expectations for a slight increase, to 53.5. Earlier data showed the Case-Shiller Home Price Index rose by 1.2% in August, down from a 1.6% increase in July, but easily topping estimates for an 0.7% hike. Year over year, prices were down 11.3% in August, improving from a 13.3% annual difference in July.

Crude oil rose 87 cents, to $79.55 a barrel, while gold ticked up $1.20 to $1,036.60 an ounce.

Stocks overseas were mixed, with the FTSE in London up 0.2%, and Dax in Frankfurt down 0.1%, respectively, after the Nikkei in Japan and Hang Seng in Hong Kong lost 1.5% and 1.9%, respectively.

-- Written by Elizabeth Trotta in New York.