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* P&G, UTC gain after results; McDonald's, Travelers fall
* Facebook falls as probe into consumer data, advertising
expands
* Biogen surges on plans to seek FDA approval for
Alzheimer's drug
* Indexes down: Dow 0.15%, S&P 500 0.36%, Nasdaq 0.72%
(Updates to market close)
By April Joyner
NEW YORK, Oct 22 (Reuters) - U.S. stocks ended lower on
Tuesday, giving up early gains after British lawmakers rejected
the government's proposed timetable for passing legislation to
ratify its deal to exit the European Union.
The defeat in parliament made it unlikely that Britain would
finalize its exit by Prime Minister Boris Johnson's Oct. 31
target. Johnson said it was up to the EU to decide whether it
wanted to delay Brexit and for how long. Though the Brexit complications have had limited impact on
U.S. markets, they have contributed to investors' uncertainties
about global financial and economic conditions, strategists
said.
"Brexit by itself is not that big of a deal for equity
investors," said Oliver Pursche, chief market strategist at
Bruderman Asset Management in New York. "The global economy is
effectively suffering from 1,000 paper cuts. None of them are
deadly, but in agreement, they're certainly painful."
Earlier on Tuesday, the S&P 500 and the Dow Jones Industrial
Average had risen modestly as upbeat forecasts from Procter &
Gamble Co PG.N and United Technologies Corp UTX.N offset
lower-than-expected results from McDonald's Corp MCD.N and
Travelers Cos Inc TRV.N .
Procter & Gamble shares gained 2.6% and United Technologies
advanced 2.2%, while McDonald's shares fell 5.0% and Travelers
shares declined 8.3%.
With Tuesday's losses the S&P 500 fell below 3000, but
remained within 1% of its record closing high in July.
The Dow Jones Industrial Average .DJI fell 39.54 points,
or 0.15%, to 26,788.1, the S&P 500 .SPX lost 10.73 points, or
0.36%, to 2,995.99 and the Nasdaq Composite .IXIC dropped
58.69 points, or 0.72%, to 8,104.30.
Facebook Inc FB.O shares dropped 3.9%, weighing heavily on
the Nasdaq, as the social networking company faced an expanding
probe into allegations that it put consumer data at risk and
pushed up advertising rates. Hasbro Inc HAS.O shares dived 16.8% as the toymaker's
profits, which have been pinched by U.S. tariffs on Chinese
imports, came in well below Wall Street estimates. In aftermarket trading, Texas Instruments Inc TXN.O shares
fell sharply and were last down 9%.
Boeing Inc BA.N shares rose 1.8% after United
Technologies' chief financial officer said the company believed
Boeing would make 737 MAX planes at its current rate for the
rest of the year. The shares pared gains slightly, however,
after Boeing announced the departure of the company's executive
in charge of commercial airplanes. Biogen Inc BIIB.O shares surged 26.1% after the
drugmaker's surprise announcement that it would seek U.S.
approval for its previously abandoned Alzheimer's treatment.
Harley-Davidson Inc HOG.N shares jumped 8.0% after the
motorcycle maker beat profit expectations and reaffirmed its
full-year shipment forecast. Advancing issues outnumbered declining ones on the NYSE by a
1.44-to-1 ratio; on Nasdaq, a 1.13-to-1 ratio favored decliners.
The S&P 500 posted 46 new 52-week highs and two new lows;
the Nasdaq Composite recorded 83 new highs and 72 new lows.
Volume on U.S. exchanges was 6.37 billion shares, compared
to the 6.49 billion average for the full session over the last
20 trading days.