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NEW YORK, Aug. 16 (Xinhua) -- U.S. stocks declined Tuesday as investors digested a batch of economic reports.
The Dow Jones Industrial Average fell 84.03 points, or 0.45 percent, to 18,552.02. The S&P 500 lost 12.00 points, or 0.55 percent, to 2,178.15. The Nasdaq Composite Index decreased 34.90 points, or 0.66 percent, to 5,227.11.
The U.S. Consumer Price Index (CPI) for all urban consumers was unchanged in July on a seasonally adjusted basis, in line with market estimates, the Labor Department reported Tuesday.
The index for all items less food and energy rose 0.1 percent in July, but posted its smallest increase since March.
Meanwhile, U.S. privately-owned housing starts in July were at a seasonally adjusted annual rate of 1.211 million units, 2.1 percent above the revised June estimate, according to the Commerce Department Tuesday.
U.S. industrial production increased 0.7 percent in July, beating market expectations of a 0.3-percent gain, after moving up 0.4 percent in June, said the Federal Reserve Tuesday.
"Domestic production has struggled since late 2014 in the face of falling oil prices, the strong dollar, and softening global growth," said Sophia Kearney-Lederman, an economic analyst at FTN Financial.
"Recent increases in production, and particularly manufacturing, are a welcome reprieve for the sector where strong auto demand in particular has boosted auto production," she said.
Meanwhile, investors kept a close eye on the minutes from the Fed's July policy meeting scheduled for release Wednesday, for more indications on the timing of a next interest rate hike.
Oil prices were also in focus, which rallied for a fourth straight session Tuesday amid speculation that the talks of Organization of the Petroleum Exporting Countries next month could result in a crude output freeze.
