Apple stock lost ground a day before it reports earnings, weighing on the Dow. The Nasdaq closed higher. Bobbi Rebell reports.
A drop in oil prices and Apple's shares weighed on Wall Street. The retreat in the Dow and S&P comes after four weeks of gains. But the Nasdaq closed higher. FBB Capital Partners' Michael Mussio: SOUNDBITE: MICHAEL MUSSIO, MANAGING DIRECTOR, FBB CAPITAL PARTNERS (ENGLISH) SAYING: "Probably just a little bit of profit taking. We had a really strong week last week." Not helping investor sentiment: new home sales fell in September to a near one-year low. Valeant Pharmaceuticals shares lost further ground. It asked U.S. securities regulators to probe short seller Citron Research's charges of fraud that has slammed the stock of the embattled drug maker. Apple's stock was the days' biggest loser on the Dow one day ahead of its earnings report. General Motors shares fell even though the automaker averted a strike. It reached a tentative labor deal with the United Auto Workers. A spark plug under Pep Boys stock. Japanese tire maker Bridgestone is buying the auto parts retailer, fueling its shares. Microsoft opened its flagship store in New York City, its largest so far. Shares rose. In Europe, oil and gas stocks led shares lower, but Germany's DAX closed higher.