The S&P 500 wavered between slight gains and losses on Tuesday as a sharp decline in telecom stocks and weak housing starts data overshadowed better-than-expected earnings from Walmart and Home Depot. AT&T Inc shed 5%, the top drag on the benchmark S&P 500, as it extended declines from Monday, when the telecoms firm said it would cut its dividend payout ratio as a result of its $43 billion media asset deal with Discovery Inc.
