US STOCKS-Mixed earnings, failed Brexit vote push down S&P 500

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* P&G, UTC gain on raising full-year forecasts
* Facebook falls as probe into consumer data, advertising
expands
* Biogen surges on plans to seek FDA approval for
Alzheimer's drug
* Dow up 0.05%, S&P 500 down 0.18%, Nasdaq off 0.55%

(New throughout, updates to late afternoon, changes byline,
adds NEW YORK to dateline)
By April Joyner
NEW YORK, Oct 22 (Reuters) - The benchmark S&P 500 index
gave up modest gains on Tuesday from earlier in the session
after British lawmakers rejected the government's proposed
timetable for passing legislation to ratify its deal to exit the
European Union.
Earlier, U.S. stocks were mixed amid split corporate
earnings reports. Upbeat forecasts from Procter & Gamble Co
PG.N and United Technologies Corp UTX.N offset disappointing
results from McDonald's Corp MCD.N and Travelers Cos Inc
TRV.N .
Procter & Gamble shares rose gained 2.8% and United
Technologies advanced 2.4%, while McDonald's shares fell 4.6%
and Travelers shares declined 8.4%.
Of the 98 S&P 500 companies that have reported results so
far, more than 80% of them have beaten Wall Street estimates,
according to data from Refinitiv. Still, analysts project the
first earnings contraction since 2016.
"With a lower bar, earnings aren't really coming in that
great," said Matthew Miskin, co-chief market strategist at John
Hancock Investment Management in Boston. "They're not going to
cut it to get the market popping out of its trading range."
The Dow held on to slight gains, thanks to boosts from
Procter & Gamble, United Technologies and Boeing Co BA.N .
Boeing shares rose after United Technologies' chief
financial officer said that the company believed Boeing would
make 737 MAX planes at its current rate for the rest of the
year. They pared gains slightly after the New York Times
reported that the company's executive in charge of commercial
airplanes was expected to leave the company. Boeing shares were
last up 2.1%. The Nasdaq was pressured throughout Tuesday's session as
shares of technology .SPLRCT and communication services
.SPLRCL stocks lagged. Facebook shares, which dropped 3.5%,
weighed most heavily on the index as the social networking
company faced an expanding probe into allegations that it put
consumer data at risk and pushed up advertising rates.
Even with the afternoon's declines, the S&P remained above
3000 and was less than 1% from its record closing high in July.
"There's some disappointment from Brexit," said Tim
Ghriskey, chief investment strategist at Inverness Counsel in
New York. "But I don't think it has a huge impact on the U.S.
market."
The Dow Jones Industrial Average .DJI rose 13.9 points, or
0.05%, to 26,841.54, the S&P 500 .SPX lost 5.3 points, or
0.18%, to 3,001.42 and the Nasdaq Composite .IXIC dropped
44.52 points, or 0.55%, to 8,118.47.
Biogen Inc BIIB.O shares surged 29.0% after the drugmaker
revived plans to seek U.S. regulatory approval for its
Alzheimer's treatment. Harley-Davidson Inc HOG.N shares jumped 9.8% after the
motorcycle maker beat profit expectations and reaffirmed its
full-year shipment forecast. Conversely, Hasbro Inc HAS.O shares dived 16.5% as the
toymaker's profits, which have been pinched by U.S. tariffs on
Chinese imports, came in well below Wall Street estimates.
Advancing issues outnumbered declining ones on the NYSE by a
1.52-to-1 ratio; on Nasdaq, a 1.01-to-1 ratio favored decliners.
The S&P 500 posted 46 new 52-week highs and two new lows;
the Nasdaq Composite recorded 78 new highs and 68 new lows.