Midday Report: S&P 500 Retreats From Records; Crude Oil Falls Into Bear Territory

Summary: The S&P 500 fell from records on Tuesday as a steep selloff in crude oil prices sent the energy sector lower. Major decliners includeD Exxon Mobil Corp. , Schlumberger Ltd. , Chevron Corp. , Halliburton Co. and Royal Dutch Shell PLC . U.S. crude oil tumbled below $43 a barrel on Tuesday, its lowest level of the year. Oil entered bear territory after concerns over a supply glut flamed up ahead of domestic supplies data. Lennar Corp. climbed after topping profit and sales estimates over its second quarter. Deliveries increased 15% and new order value rose 17%. McDonald's Corp. MCD grew after Cowen & Co upgrades to OUTPERFORM from MARKET PERFORM and increased its price target. Analysts' optimism was based on higher U.S. same-store sales tied to mobile ordering initiatives.