US stocks slip on mixed reports, with utilities skidding

NEW YORK (AP) — U.S. stocks slipped Tuesday morning as investors continued to sell phone company and utility stocks.

Investors are also sifting through reports that showed inflation remained weak in July, but home building and factory production improved.

The Labor Department said prices paid by consumers were unchanged in July as gas and other energy prices kept inflation down.

Core inflation, which leaves out food and fuel prices, inched up just 0.1 percent for the month.

Tea maker Hain Celestial Group delayed its quarterly report because of accounting issues and said it doesn't expect to reach its financial projections for the year.

Home improvement retailer Home Depot posted strong results and raised its annual estimates as it continued to resist the troubles that have affected many other retailers.

Overall industrial production, which includes utilities and mining, grew 0.7 percent as people used more air conditioning in response to hot weather.

The results suggest manufacturing might be recovering from a series of challenges that have held them back, including the strong dollar, slower overseas growth and low oil prices.

Dick's Sporting Goods announced better-than-expected quarterly results and raised its projections for the year.