US close: Markets finish higher after weak economic data
Wall Street finished in the green on Tuesday, as traders shrugged off weaker-than-expected readings on the US economy.
The Dow Jones Industrial Average finished up 0.21% at 20,937.91, while the S&P 500 pushed 0.18% higher at 2,398.42 and the Nasdaq 100 ended 0.07% firmer at 5,703.35.
IHS Markit's manufacturing sector purchasing managers' index retreated unexpectedly from a reading of 52.8 for April to 52.5 in May, against a consensus forecast for 53.4.
That was offset by a jump in an equivalent gauge for the country's services sector from 53.1 in April to 54.0 for May - a four-month high.
Commenting on Tuesday's PMI surveys, Chris Williamson at Markit said: "Growth of US business activity gained a little momentum for a second successive month in May, but the upturn still looks somewhat underwhelming.”
US new home sales plummeted 11.4% month-on-month in April to reach 569,000, falling short of forecasts for 610,000, although the blow from the data was softened by upwards revisions to the prior month’s figures.
Minneapolis Fed chief Neel Kashkari told an audience he was in no hurry to raise interest rates.
Kashkari, the lone dissenter when the central bank last raised interest rates, said recent soft prints on inflation were "concerning".
In corporate news, shares of Agilent Technologies finished 4.6% higher after the firm lifted its earnings and revenue guidance for the year late on Monday.
Dow Jones - Risers
Goldman Sachs Group Inc. (GS) $219.64 1.68%
Caterpillar Inc. (CAT) $103.66 1.31%
JP Morgan Chase & Co. (JPM) $85.76 1.25%
Nike Inc. (NKE) $52.20 1.22%
Merck & Co. Inc. (MRK) $64.55 0.80%
Visa Inc. (V) $93.89 0.59%
Cisco Systems Inc. (CSCO) $31.76 0.54%
Coca-Cola Co. (KO) $44.39 0.48%
General Electric Co. (GE) $28.26 0.35%
Exxon Mobil Corp. (XOM) $82.58 0.35%
Dow Jones - Fallers
Home Depot Inc. (HD) $154.83 -0.72%
Walt Disney Co. (DIS) $107.07 -0.57%
International Business Machines Corp. (IBM) $152.03 -0.40%
3M Co. (MMM) $197.73 -0.39%
McDonald's Corp. (MCD) $147.82 -0.25%
Procter & Gamble Co. (PG) $86.08 -0.15%
Apple Inc. (AAPL) $153.80 -0.12%
Boeing Co. (BA) $183.49 -0.10%
Wal-Mart Stores Inc. (WMT) $78.48 -0.08%
E.I. du Pont de Nemours and Co. (DD) $77.35 -0.05%
S&P 500 - Risers
Endo International Plc (ENDP) $12.88 8.78%
United States Steel Corp. (X) $20.38 4.67%
Agilent Technologies Inc. (A) $58.66 4.60%
Archer-Daniels-Midland Co. (ADM) $43.04 3.71%
Nucor Corp. (NUE) $58.64 3.31%
Regions Financial Corp. (RF) $14.47 2.84%
Zions Bancorporation (ZION) $41.34 2.81%
Mylan Inc. (MYL) $39.59 2.46%
Perrigo Company plc (PRGO) $73.03 2.40%
CF Industries Holdings Inc. (CF) $28.95 2.33%
S&P 500 - Fallers
AutoZone Inc. (AZO) $580.39 -11.84%
Alexion Pharmaceuticals Inc. (ALXN) $104.64 -9.34%
Brown Forman Corp. Class B (BF.B) $53.38 -6.22%
GameStop Corp. (GME) $22.66 -5.78%
Xilinx Inc. (XLNX) $63.97 -5.26%
TripAdvisor Inc. (TRIP) $40.87 -4.89%
Frontier Communications Co. (FTR) $1.40 -4.76%
Advance Auto Parts (AAP) $140.59 -4.55%
Helmerich & Payne Inc. (HP) $57.49 -3.99%
Tractor Supply Company (TSCO) $54.29 -3.57%
Nasdaq 100 - Risers
Mylan Inc. (MYL) $39.59 2.46%
Monster Beverage Corp (MNST) $49.43 2.25%
eBay Inc. (EBAY) $34.61 2.22%
Intuit Inc. (INTU) $129.15 1.56%
Celgene Corp. (CELG) $117.31 1.38%
Incyte Corp. (INCY) $136.16 1.29%
Marriott International - Class A (MAR) $105.49 1.22%
Activision Blizzard Inc. (ATVI) $57.80 1.19%
American Airlines Group (AAL) $46.66 0.97%
J.B. Hunt Transport Services Inc. (JBHT) $85.07 0.97%
Nasdaq 100 - Fallers
Alexion Pharmaceuticals Inc. (ALXN) $104.64 -9.34%
Xilinx Inc. (XLNX) $63.97 -5.26%
Tractor Supply Company (TSCO) $54.29 -3.57%
O'Reilly Automotive Inc. (ORLY) $240.18 -3.33%
Viacom Inc. Class B (VIAB) $34.32 -2.61%
Dollar Tree Inc (DLTR) $78.85 -2.56%
Biomarin Pharmaceutical Inc. (BMRN) $88.36 -2.35%
JD.com, Inc. (JD) $40.72 -2.26%
Discovery Communications Inc. Class A (DISCA) $25.63 -2.21%
Tesla Inc (TSLA) $303.86 -2.09%