WASHINGTON (dpa-AFX) - U.S. stocks closed mixed on Tuesday after a cautious
session, as investors looked ahead to the release of some crucial U.S. data,
including a report on consumer income and spending, for more clarity about the
outlook for Federal Reserve's interest rates.

Among the major averages, the Dow settled with a loss of 299.05 points or 0.76
percent, at 39,112.16. The Nasdaq climbed up 220.84 points or 1.26 percent, to
17,717.65, while the S&P 500 ended up by 21.43 points or 0.39 percent, at
5,469.30.

Nvidia rallied nearly 7 percent, rebounding after recent losses. Meta Platforms,
Alphabet, Apple Inc., Eli Lilly, Micron Technology, Uber Technologies, Arista
Networks, Palo Alto Networks, Dell, and Airbnb also posted strong gains.

Boeing, Nike, Goldman Sachs, IBM, Pfizer, McDonalds Corporation, Wells Fargo,
Bank of America, Home Depot and Johnson & Johnson declined sharply.

Walmart ended lower by more than 2 percent, after the company's CFO flagged the
second quarter as the 'most challenging quarter'.

On the economic front, the Chicago Fed's measure of overall economic activity
and related inflationary pressure in the United States rose in May for the first
time in three months, survey results showed.

The Chicago Fed National Activity Index, or CFNAI, rose to +0.18 in May from
-0.26 in April, which was revised from -0.23.

U.S. house prices rose less than expected in April, after stagnating in the
previous month, latest data from the Federal Housing Financing Agency showed.

The seasonally adjusted house price index increased 0.2 percent from the
previous month. Economists had forecast a 0.3 percent gain. March's 0.1 percent
increase was revised down to 0.0 percent.

House prices rose 6.3 percent year-on-year in April, which was more than double
the 3.1 percent gain registered in the same month last year.

Survey data from the Conference Board showed consumer confidence in the U.S.
eased slightly in June as households' economic expectations eroded. The
Conference Board Consumer Confidence Index fell to 100.4 from 101.3 in May.
Economists had expected a reading of 100.

The Expectations Index, which mirrors consumers' short-term outlook for income,
business, and labor market conditions, slid to 73.0 from 74.9 in May.

In overseas trading, Asian stocks ended mostly higher on Tuesday after China's
Premier Li Qiang said the country is capable of achieving the full year growth
target of around 5 percent.

European stocks closed on a weak note as investors closely followed the
political scene and digested some corporate news from the region, besides
looking ahead to U.S. consumer income & spending data for clues about the
outlook for Federal Reserve's monetary policy moves.



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX