Show Entire Article
Stocks ended lower Tuesday as a drop in consumer confidence dragged on the market.
The Dow Jones Industrial Average shed 47.16, or 0.5 percent, to close at 9,742.20. The S&P 500 lost 0.2 percent and the Nasdaq fell 0.3 percent.
This came after all three indexes logged their best one-day gains since the summer on Monday as investors cheered a flurry of M&A activity.
The Conference Board's consumer-confidence index dropped to 53.1in September from 54.5 in August. Economists surveyed by Reuters had expected the gauge to rise to 57.
"While not as pessimistic as earlier this year, consumers remain quite apprehensive about the short-term outlook and their incomes. With the holiday season quickly approaching, this is not very encouraging news," Joshua Shapiro of MFR Inc. wrote in a note to clients.
Meanwhile, investors shrugged off a better-than-expected housing report: Home prices continued to rebound, up for a third straight month in July, after a three-year slide.
3M and Cisco , some of the biggest gainers in the previous session's rally, were among today's biggest drags: Both stocks fell more than 1 percent.
Banks ended mixed, with Citigroup up nearly 3 percent, and Bank of America down 0.4 percent.
Page 1 of 3 | Next PageShow Entire Article
SQNM News & Analysis
No recent news available
DATA IS REAL-TIME EXCEPT NOTED WITH *
* DATA DELAYED AT LEAST 15 MINUTES