US stocks fell on Tuesday as optimism over a possible deal by Greece in its debt wrangling dissipated after a batch of weaker-than-expected economic reports. But data showing home prices fell more than expected in December, business activity in the Midwest grew at a slower rate than anticipated and consumer confidence unexpectedly fell undermined the early positive tone.
The Dow Jones industrial average was down 48.17 points, or 0.38 percent, at 12,605.55. The Standard & Poor's 500 Index was off 2.76 points, or 0.21 percent, at 1,310.25. The Nasdaq Composite Index took off 5.09 points, or 0.18 percent, at 2,806.85. Earnings reports continue to paint a muddled picture. Exxon Mobil Corp fell 2.1 percent to $83.71 and was the biggest drag on both the Dow and S&P 500. The S&P is on pace for a 4 percent gain in January, its best month since October. The Dow is up 3 percent, on track for its fourth straight monthly gain, while the Nasdaq is up 7.6 percent.