The Dow Jones industrial average (^DJI) fell 27 points, the Nasdaq composite (^IXIC) lost 5 and the Standard & Poor's 500 index (^GPSC) slipped 2 points.
Tesla (TSLA) soared 13 percent after its all-electric car was named car of the year by Consumer Reports. Morgan Stanley (MS) also raised its target on the stock, which has been on fire. It's gone from $34 a share a year ago, to nearly $250 today.
This is a big week for retail industry earnings, and Home Depot (HD) got things off to a good start. Its beat estimates and raised its dividend. Home Depot shares rose 4 percent.
Macy's (M) jumped 6 percent and some other department stores followed suit. J.C. Penney (JCP) also rose 6 percent, Sears (SHLD) gained 2 percent and Dillard's (DDS) rose 8 percent.
But banking giant JPMorgan (JPM) fell 1.8 percent after lowering its profit outlook for the current quarter.
Let's stick with earnings. On the plus side:
- Frontier Communications (FTR) rose 10.5 percent.
- Bloomin' Brands (BLMN), which owns Outback Steakhouse and Bonefish Grill, jumped 14 percent.
- Zulily (ZU), the daily shopping site, soared 41 percent after reporting a big sales jump.
- Live Nation gained 8 percent. It reports increased attendance at its concerts.
- And Solar City (SCTY) rose 3 percent, even though the solar panel company delayed reporting its full year results. But this is another company that has soared over the past year, up nearly 350 percent.
- Tenet Healthcare (THC) posted a loss. Its stock fell 9 percent.
- And RealPage (RP), which makes software for rental housing, tumbled 22 percent.
What to Watch Wednesday:
- The Mortgage Bankers Association reports weekly mortgage applications at 7 a.m. Eastern time.
- Abercrombie & Fitch (ANF)
- Anheuser-Busch InBev (BUD)
- Barnes & Noble (BKS)
- Cablevision Systems (CVC)
- Chesapeake Energy (CHK)
- Dollar Tree (DLTR)
- L Brands (LB)
- Lowe's (LOW)
- J.C. Penney (JCP)
- Target (TGT)
- TJX (TJX)
- TiVo (TIVO)