IBT Staff Reporter

The S&P 500 and the Nasdaq fell on Tuesday as investors booked profits following the stock market's recent run-up, while a weaker-than-expected reading on a measure of consumer confidence sparked caution about the recovery of spending.

U.S. retail gasoline demand last week rose 5.1 percent from a year ago, according to a MasterCard SpendingPulse report released on Tuesday.

Visa Inc , the world's largest payment network, posted quarterly earnings that were 23 percent higher than for the same period last year, raised its dividend and authorized a share repurchase plan.

The S&P 500 and the Nasdaq fell on Tuesday as investors booked recent profits in the tech sector, while a weaker-than-expected reading on a measure of consumer confidence sparked caution about a pick-up in spending.

Visa Inc , the world's largest payment network, posted quarterly earnings that were 23 percent higher than for the same period last year, raised its dividend and authorized a share repurchase plan.

JPMorgan Chase & Co , the second largest U.S. bank, is looking to add financial advisers, Chief Executive Jamie Dimon told a conference in New York on Tuesday.

Ford Motor Co has made the most progress in improving vehicle quality among major automakers, while Chrysler ranks at the bottom of the industry for reliability, according to an annual Consumer Reports survey released on Tuesday.

High unemployment has had some impact on the breakfast business at McDonald's Corp as fewer people pick up food on the way to work, Chief Executive Jim Skinner said on Tuesday.

IBM said its board approved an additional $5.0 billion in share repurchases, bringing the company's total stock buyback program to $9.2 billion in a reflection of its strong cash flow.

With America still in a defensive crouch after a crushing recession and financial meltdown, the U.S. Federal Reserve is unlikely to soften its promise of rock bottom interest rates soon.

A proposal to stop rich Americans from stashing assets offshore to evade taxes, by slapping penalties on individuals and foreign financial institutions, was introduced on Tuesday in the U.S. Congress.

High unemployment has had some impact on the breakfast business at McDonald's Corp as fewer people pick up food on the way to work, Chief Executive Jim Skinner said on Tuesday.

The S&P 500 and the Nasdaq fell on Tuesday as investors booked profits following the stock market's recent run-up, while a weaker-than-expected reading in a measure of consumer confidence sparked caution about the spending recovery.

Eight U.S. troops were killed in bomb attacks in southern Afghanistan on Tuesday ahead of a run-off presidential election, the NATO-led alliance said, in the deadliest month for U.S. troops since the start of the war eight years ago.

Iran wants major amendments within the framework of a U.N. nuclear fuel deal which it broadly accepts, state media said, a move that could unravel the plan and expose Tehran to the threat of harsher sanctions.

General Electric Co's Energy unit on Tuesday said its latest turbine design for natural gas-fired power plants will consume less fuel and emit less carbon dioxide than existing GE turbines.

The Obama administration's pay czar, who sent shock waves through Wall Street by slashing compensation at seven bailed-out companies, says those moves were just the beginning.

Much of the rationale for the U.S. involvement in Afghanistan has to do with making sure that it doesn't become a haven for militant groups once again.

The U.S. Justice Department is investigating possible violations of antitrust law in the optical disc drive industry, a spokeswoman said on Tuesday.

ING shares were sold sharply lower the day after it announced plans for a highly dilutive rights issue, before the record number of shares trading hands caused a technical glitch and the share's suspension.

A private power line built in Texas by a unit of FPL Group has other transmission developers worried about higher costs and public resistance to new lines needed to move emission-free wind power from sparsely populated areas to big cities, like Dallas and San Antonio.

Johnson Controls Inc's quarterly profit surged on cost cuts and improving auto production, but the company stood by a 2010 forecast that trails Wall Street expectations, sending its shares down nearly 5 percent.

Vitamin Shoppe Inc and Addus HomeCare Corp are expected to price their initial public offerings on Tuesday after the bell, seeking to break what has been a streak of disappointing IPOs by companies owned by private equity.

Robert McCann, the new head of the battered U.S. wealth management unit of Swiss bank UBS AG , said he aims to stem client withdrawals and has no plans to sell the business.

NASA's Ares 1-X launch has been rescheduled for Wednesday morning after a series of delays that delayed the planned lift-off before noon.

The Dow and S&P rose on Tuesday as stronger-than-expected earnings at BP Plc lifted energy shares, but weak U.S. consumer confidence data weighed on stocks.

Investors are shunning European bank shares after an EU-imposed break-up and retrenchment of Dutch ING Groep sparked fears Belgium's KBC and UK peers face tougher-than-expected sanctions in return for state aid.

U.S. consumer confidence deteriorated sharply in October as the worst job market in a quarter century heightened concerns about the future, more than outweighing modest improvements in the housing sector.

Demand for lithium should ramp up over the next decade to produce the lithium-ion batteries needed to power the next generation of electric and electric hybrid vehicles.