U.S. markets stumble on negative data

NEW YORK, Aug. 3 (UPI) -- U.S. stock markets stumbled Tuesday reacting to a parade of negative economic reports.

The Department of Commerce said disposable incomes and dollars spent were virtually unchanged in June. Incomes were also flat, after rising 0.3 percent a month ago.

The Census Bureau reported factory orders were down for the second consecutive month and a trade group, the National Association of Realtors said home permits issued in June fell 2.6 percent compared to May.

The reports reflect concerns that the U.S. economic recovery has stalled.

By close, the Dow Jones industrial average lost 38 points, or 0.36 percent, to 10,636.38. The Standard & Poor's 500 index lost 5.40, or 0.48 percent, to 1,120.46. The Nasdaq composite index lost 11.84, or 0.52 percent, to 2,283.52.

On the New York Stock Exchange, 1,178 stocks advanced and 1,826 declined on a volume of 5.2 billion shares traded.

The benchmark 10-year U.S. Treasury note rose 16/32 to yield 2.91 percent.

The euro rose to $1.323 from Monday's $1.3171. Against the yen, the dollar fell to 85.85 yen from Monday's 86.48 yen.

In Tokyo, the Nikkei 225 index gained 1.29 percent, 123.70, to 9,694.01.

In London, the FTSE 100 index fell 0.01 percent, 0.63, to 5,396.48.