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U.S. Stocks Little Changed as Fresh New Data Presented

Tuesday, February 27, 2024 10:46 AM | Baystreet via QuoteMedia

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U.S. Stocks Little Changed as Fresh New Data Presented

Stocks were flat Tuesday as the market rally took another breather, with investors looking ahead to key data slated for release later this week.

The Dow Jones Industrials slimmed down 121.04 points to begin Tuesday's session at 38,948.19.

The S&P 500 squeezed up 0.83 points to 5,070.60.

The NASDAQ index regained 37.43 points to 16,013.63.

Retail giant Macy's advanced more than 5% after announcing it would close around 150 of its struggling stores after reporting a revenue miss in the prior quarter. Lowe's gained 5% after posting an earnings beat. Zoom Video and Hims & Hers Health rose 3.7% and 39%, respectively, following earnings reports that exceeded Wall Street expectations.

The latest consumer confidence numbers also fell on worries regarding a potential labor market slowdown and polarized political landscape, according to a Conference Board gauge released Tuesday. The board's Consumer Confidence Index declined to 106.7, which was lower than the downwardly revised 110.9 in January and below the Dow Jones estimate for 115.1.

Prices for the 10-year Treasury hesitated, raising yields to 4.29% from Monday's 4.28%. Treasury prices and yields move in opposite directions.

Oil prices gained 57 cents to $78.15 U.S. a barrel.

Gold prices gained $5.60 to $2,044.50.

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