Stocks Down in Afternoon, But Rackspace Hits New High

Stocks continued to slump mildly lower in early afternoon trading on Tuesday after recouping some losses following mixed January retail sales data. But cloud-computing firm Rackspace Hosting

and paint maker Valspar

hit new highs following strong earnings reports. The Nasdaq was down 0.4%, the S&P 500 0.6%, and the Dow Jones industrial average 0.5%. Volume was tracking 35% higher on the Nasdaq and 1% higher on the NYSE vs. the same time Monday.