Stocks close mixed, give up early rally

U.S. stocks turned mixed at the close of trading Tuesday, giving up strong gains gain. Investors weighed quarterly results from Walmart Stores, Home Depot and other big retailers and a mix of economic data on inflation, manufacturing and homebuilding. Utilities and energy stocks were among the biggest decliners.

In late afternoon on Wall Street, the Dow Jones industrial average was up nearly 6 points, about 0.03 percent, to nearly 17,489. The Standard & Poor's 500 index slid 2.8 points, about 0.1 percent, to 2,050.4. The Nasdaq composite held on to 1.4 points, about 0.03 percent, to close at 4,986.

CRUDE ENERGY: Just before the markets closed, the price of the Dec. 16 contract on benchmark U.S. crude oil was down $1.01 at $40.73 a barrel in trading on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 99 cents to close at $43.57 a barrel in London.

HIGHER PRICES: The Labor Department's consumer price index rose 0.2 percent in October after falling the prior two months. Core inflation, which excludes volatile food and energy prices, also advanced 0.2 percent from September and 1.9 percent from a year ago.

ROUGH QUARTER: Urban Outfitters plunged 6.9 percent after the retailer's latest quarterly sales fell short. The stock dropped $1.57 to $21.11.

UNFIT RESULTS: Dick's Sporting Goods slumped 11.6 percent after the sporting goods retailer reported worse-than-expected fiscal third-quarter results and gave a weak outlook. The stock fell $4.72 to $36.09.

SUPPLEMENT WOES: News that the Justice Department and several other federal agencies are preparing to announce the results of a probe into unlawful advertising and sale of dietary supplements pushed shares in GNC Holdings and Vitamin Shoppe lower. GNC slid $2.16, or 7 percent, to $28.89, while Vitamin Shoppe lost $2.65, or 8.9 percent, to $27.

BETTER SALES: Walmart Stores rose 3.3 percent after the company reported improved customer traffic and an increase in a key sales figure for the third quarter, even as a stronger dollar pressured its performance overseas. The world's largest retailer also issued a forecast for the holiday shopping season that largely beat Wall Street expectations. The stock added $1.92 to $59.79.

SPRUCING UP: Home Depot climbed 3.8 percent after the home-improvement retailer reported better-than-expected third-quarter earnings and revenue, and delivered an upbeat fiscal outlook. The stock rose $4.59 to $125.43.

BEATING EXPECTATIONS: The TJX Cos. rose 3.4 percent after the parent of T.J. Maxx, Marshalls and other stores reported better-than-expected sales at established stores in the third quarter. The retailer's earnings also topped Wall Street's estimates. TJX gained $2.20 to $67.85.

MANUFACTURING BELLWETHER: The Federal Reserve said that U.S. manufacturing output rose 0.4 percent in October, the first gain in three months, as factories cranked out more steel, cars and computers. The rise suggests that manufacturers may be overcoming challenges they have faced for most of this year.

DIMMED OPTIMISM: The latest National Association of Home Builders/Wells Fargo builder sentiment index slipped this month. Builders' view of current sales conditions and their outlook for sales over the next six months also declined. Despite the decline, builders' overall outlook remains favorable.

ANALYSTS OPINION: A report showing that inflation ticked up last month could increase the likelihood that the Federal Reserve will begin raising short-term interest rates from historic lows as early as next month, said David Chalupnik, head of equities at Nuveen Asset Management.

"Historically, hiking interest rates would not be good for the stock market, but at this point it's a psychological boost that the economy is self-sustaining enough that the Fed could get off the zero interest rate policy," Chalupnik said.