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S&P, NASDAQ Rise
(MENAFN- Baystreet)
Equities Little Changed by Noon U.S. Stocks Little Changed as Fresh New Data Presented Futures Little Changed After Falling from Peaks Rally Pauses, Indexes Step Back Stock Futures Little Changed After Record-Setting Week Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Tuesday, February 27, 2024 S&P, NASDAQ Rise Advertisment
The S&P 500 and the NASDAQ Composite ended Tuesday's session with modest gains as investors prepared for key inflation data to be released later this week.
The Dow Jones Industrials came off their lows of the day, but remained negative 96.82 points before Tuesday's close at 38,972.41.
The S&P 500 poked 8.65 points to 5,078.18.
The NASDAQ index nosed up 59.05 points to 16,075.30.
Retail giant Macy's advanced 3.4% after announcing it would close around 150 of its struggling stores following a revenue miss in the prior quarter. Lowe's gained 1.7% after posting an earnings beat. Zoom Video leaped 8% and Hims & Hers Health rose 31%, 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 4.31% from Monday's 4.28%. Treasury prices and yields move in opposite directions.
Oil prices gained $1,07 to $78.65 U.S. a barrel.
Gold prices gained 50 cents to $2,039.40.
The S&P 500 and the NASDAQ Composite ended Tuesday's session with modest gains as investors prepared for key inflation data to be released later this week.
The Dow Jones Industrials came off their lows of the day, but remained negative 96.82 points before Tuesday's close at 38,972.41.
The S&P 500 poked 8.65 points to 5,078.18.
The NASDAQ index nosed up 59.05 points to 16,075.30.
Retail giant Macy's advanced 3.4% after announcing it would close around 150 of its struggling stores following a revenue miss in the prior quarter. Lowe's gained 1.7% after posting an earnings beat. Zoom Video leaped 8% and Hims & Hers Health rose 31%, 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 4.31% from Monday's 4.28%. Treasury prices and yields move in opposite directions.
Oil prices gained $1,07 to $78.65 U.S. a barrel.
Gold prices gained 50 cents to $2,039.40.
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