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Equities Little Changed by Noon

Tuesday, February 27, 2024 12:32 PM | Baystreet via QuoteMedia

Equities Little Changed by Noon

Stocks south of the border 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 dumped 171.88 points to move into Tuesday's afternoon at 38,897.35.

The S&P 500 dipped 5.55 points to 5,063.98.

The NASDAQ index nosed up 13.60 points to 15,989.85.

Retail giant Macy's advanced more than 3% after announcing it would close around 150 of its struggling stores after reporting a revenue miss in the prior quarter. Lowe's gained around 3% after posting an earnings beat. Zoom Video sprinted 5.7%, and Hims & Hers Health rose 35%, following earnings reports that exceeded Wall Street expectations.

Data from the U.S. Department of Commerce released on Tuesday showed that orders for long-lasting goods declined more than expected in January, with the leading factor being a large drop in demand for transportation.

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 4.30% from Monday's 4.28%. Treasury prices and yields move in opposite directions.

Oil prices gained 77 cents to $78.35 U.S. a barrel.

Gold prices gained $1.20 to $2,040.10.

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