U.S. stocks fell and the dollar rebounded from a 14-month low against the euro as a disappointing report on housing starts overshadowed better-than- estimated earnings at companies from Apple Inc. to Caterpillar Inc. Treasuries gained, while oil dropped from a one-year high.

Pulte Homes Inc. and Home Depot Inc. led builders and retailers lower as the Commerce Department report signaled the housing market may slow once tax incentives expire. Coca-Cola Co. lost 1.3 percent after sales trailed estimates, while Boeing Co. slid 2.9 percent on Morgan Stanley’s recommendation to sell the shares. Apple and Caterpillar rose at least 3 percent.

The Standard & Poor’s 500 Index lost 0.6 percent to 1,091.06 at 4:02 p.m. in New York, retreating from a one-year high. The Dow Jones Industrial Average decreased 50.71 points, or 0.5 percent, to 10,041.48. Asian shares advanced, while European benchmarks erased gains. The dollar appreciated 0.2 percent to $1.4932 per euro.

(Source: Bloomberg.com)