Wall Street recap

IBM lifts Dow, but stocks mostly fall on mixed data

NEW YORK Stocks mostly fell yesterday as mixed reports on home prices and consumer confidence gave investors little incentive to step into the market. Rising energy stocks and a decision by IBM Corp. to double its stock-repurchase plan propped up the Dow Jones industrials, but the Nasdaq composite index slid after Chinese Internet search company Baidu Inc. warned its revenue could take a hit as it switches its advertising system.

Stocks rose at the start of trading after a report that home prices in 20 major metropolitan markets increased in August for the third straight month.

However, the gains in home prices couldn't offset worries that consumers might not be in a mood to spend this holiday season. The Conference Board said its Consumer Confidence Index fell unexpectedly to 47.7 in October, its second-lowest reading since May. Analysts predicted a figure of 53.1.

The Dow rose 14.21, or 0.1 percent, to 9,882.17. Analysts say the coming days could be choppy as traders look for fuel to extend the market's climb. The down days are welcome by those who say the advance has been too quick.

IBM, one of the 30 companies that make up the Dow, rose after it added $5 billion to its stock-repurchase fund. The total now stands at $9.2 billion. The stock advanced 54 cents, or 0.5 percent, to $120.65.

Baidu's American Depositary shares slid $49.31, or 11.4 percent, to $383.66 after it its warning about revenue.