Advertisment
The S&P 500 pulled back on Tuesday after a softer-than-expected consumer confidence reading.
The Dow Jones Industrials gained 29.34 points to 42,153.99, yet another record high.
The much-broader index subtracted 13.24 points to 5,705.23.
The NASDAQ Composite fell 80.4 points to 17,893.87.
Despite Tuesday’s moves, the major averages were headed for solid monthly gains. The Dow was up 1.4% in September. The S&P 500 and NASDAQ have risen 1% and 1.2%, respectively. Some of those gains come as investors grow hopeful that lower rates from the Federal Reserve will drive economic growth and boost profits.
Consumer confidence fell to the lowest level in more than three years for September, the Conference Board said on Tuesday. The Board’s Consumer Confidence Index pulled back to 98.7 for the month, down from 105.6 in August and below the 104 Dow Jones consensus estimate.
The data follows a warning from JPMorgan Chase CEO Jamie Dimon about geopolitical instability “getting worse” and being his “biggest caution.” Dimon added that the worrisome backdrop could influence “the state of the economy” moving forward.
Prices for the 10-year Treasury were unchanged, leaving yields at Monday’s 3.75%.
Oil prices forged higher $1.29 at $71.66 U.S. a barrel.
Gold prices hiked $10.60 to $2,663.10 U.S. an ounce
