The stock market initially rose sharply in light of generally favorable earnings from Caterpillar and 3M but gave up those gains in afternoon trading. News of weaker-than-forecast new home sales that fell for the first time in four months dampened hopes that the housing market may have hit bottom. Just after 2 p.m. EST, the Dow Jones Industrials
Beyond the earnings scene, Home Depot
On the upside, Johnson & Johnson
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Fool contributor Dan Caplinger doesn't own shares of the companies mentioned. You can follow him on Twitter here. The Motley Fool owns shares of Wal-Mart and Johnson & Johnson. Motley Fool newsletter services have recommended buying shares of Johnson & Johnson, Home Depot, 3M, and Wal-Mart, as well as creating diagonal call positions on Johnson & Johnson, Wal-Mart, and 3M. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool has a disclosure policy.