Stocks give up early gains on Wall Street

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Associated Press

Posted on October 2, 2012 at 12:01 PM

Updated Tuesday, Oct 2 at 1:01 PM

NEW YORK (AP) — Stocks are giving up an early advance and turning lower in midday trading on Wall Street.

Materials and energy companies led the decline Tuesday. Dupont fell the most of the 30 stocks in the Dow Jones industrial average. A weak earnings report from Mosaic, a major fertilizer maker, sent materials stocks lower.

The Dow was down 66 points at 13,449 shortly before noon Eastern time. It had been up 52 points in early trading.

The Standard & Poor's 500 index was down three points at 1,441 and the Nasdaq composite fell less than a point to 3,112.

Stocks started the day higher after a measure of American home prices posted the largest gain in August in more than six years.

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