US close: Stocks finish mostly lower after mixed economic data
US stocks finished mostly lower on Tuesday after mixed economic data and a drop in oil prices.
The Dow Jones Industrial Average fell 0.48% and the S&P 500 0.10% but the Nasdaq rose 0.29%.
Oil prices were in the red as the production of Canadian oil resumed and investors looked ahead to this Thursday’s meeting of the Organization of the Petroleum Exporting Countries.
West Texas Intermediate crude dipped 1.3% to $48.94 per barrel and Brent slid 0.18% to $49.67 per barrel at 2141 BST.
In economic data, the Commerce Department revealed US consumer spending rose 1.0% in April from a month earlier, the biggest monthly increase since August 2009. Analysts had pencilled in a 0.7% gain.
Personal income increased 0.4% in April, in line with expectations.
On the downside, data from the Conference Board showed US consumer confidence unexpectedly deteriorated in May. The Conference Board Consumer Confidence Index fell to 92.6 from 94.7 in April, missing expectations for an increase to 96.0.
The Chicago manufacturing purchasing managers’ index unexpectedly slipped into contraction in May to reading of 49.3, down from 50.4 the previous month. Analysts had forecast 50.5. A level below 50 signals contraction while a reading above that suggests an expansion.
Meanwhile, US home price appreciation remained strong in March.The S&P/Case-Shiller 20-City Composite Home Price Index rose by 5.4% in March from the same month last year, in line with expectations and the previous month’s gains.
On the corporate front, shares in Medtronic dropped despite reporting better-than-expected fourth quarter earnings and guidance for the full year.
Great Plains Energy slumped as it agreed to buy Westar Energy for $8.6bn, marking a major consolidation in the utilities sector. Westar shares rose.
StemCells edged lower after announcing plans to wind down its operations.
In currencies, the dollar jumped 1.07% against the pound as two Guardian/ICM polls showed the campaign to leave the European Union in the lead ahead of Britain’s referendum on 23 June.
The dollar also climbed 0.03% against the euro but fell 0.34% versus the yen.
S&P 500 - Risers
Southwestern Energy Co. (SWN) $13.67 +4.67%
Seagate Technology Plc (STX) $22.56 +4.16%
Western Digital Corp. (WDC) $46.54 +3.45%
Micron Technology Inc. (MU) $12.72 +3.33%
Alliance Data Systems Corp. (ADS) $222.19 +3.32%
Chesapeake Energy Corp. (CHK) $4.29 +3.13%
Williams Companies Inc. (WMB) $22.15 +3.12%
Vertex Pharmaceuticals Inc. (VRTX) $93.15 +3.06%
Ameren Corp. (AEE) $49.55 +2.99%
Range Resources Corp. (RRC) $42.59 +2.97%
S&P 500 - Fallers
Coca-Cola Enterprises Inc. (CCE) $38.81 -24.71%
Constellation Brands Inc. Class A (STZ) $153.15 -2.97%
E.I. du Pont de Nemours and Co. (DD) $65.41 -2.62%
Boeing Co. (BA) $126.15 -2.38%
Tyson Foods Inc. (TSN) $63.78 -1.98%
Apache Corp. (APA) $57.14 -1.97%
Berkshire Hathaway Inc. Class B (BRK.B) $140.54 -1.96%
Autodesk Inc. (ADSK) $58.27 -1.80%
Mosaic Company (MOS) $25.23 -1.79%
Carnival Corp. (CCL) $47.74 -1.77%
Dow Jones I.A - Risers
Microsoft Corp. (MSFT) $53.00 +1.30%
Caterpillar Inc. (CAT) $72.51 +0.76%
International Business Machines Corp. (IBM) $153.74 +0.59%
Verizon Communications Inc. (VZ) $50.90 +0.55%
Cisco Systems Inc. (CSCO) $29.05 +0.45%
American Express Co. (AXP) $65.76 +0.37%
General Electric Co. (GE) $30.23 +0.37%
Pfizer Inc. (PFE) $34.70 +0.26%
Intel Corp. (INTC) $31.59 +0.06%
Wal-Mart Stores Inc. (WMT) $70.78 +0.04%
Dow Jones I.A - Fallers
E.I. du Pont de Nemours and Co. (DD) $65.41 -2.62%
Boeing Co. (BA) $126.15 -2.38%
Nike Inc. (NKE) $55.22 -1.73%
Home Depot Inc. (HD) $132.12 -1.36%
Exxon Mobil Corp. (XOM) $89.02 -1.10%
Walt Disney Co. (DIS) $99.22 -1.07%
Chevron Corp. (CVX) $101.00 -1.00%
McDonald's Corp. (MCD) $122.06 -0.97%
Visa Inc. (V) $78.94 -0.90%
Apple Inc. (AAPL) $99.86 -0.49%
Nasdaq 100 - Risers
Seagate Technology Plc (STX) $22.56 +4.16%
Western Digital Corp. (WDC) $46.54 +3.45%
Micron Technology Inc. (MU) $12.72 +3.33%
Vertex Pharmaceuticals Inc. (VRTX) $93.15 +3.06%
Endo International Plc (ENDP) $15.81 +2.80%
Nxp Semiconductors Nv (NXPI) $94.49 +2.57%
Biogen Inc (BIIB) $289.73 +2.45%
Dish Network Corp. (DISH) $49.90 +1.94%
Dollar Tree Inc (DLTR) $90.54 +1.80%
Nvidia Corp. (NVDA) $46.72 +1.79%
Nasdaq 100 - Fallers
Baidu Inc. (BIDU) $178.54 -3.50%
Vodafone Group Plc ADS (VOD) $33.99 -2.02%
Autodesk Inc. (ADSK) $58.27 -1.80%
Liberty Media Corporation - Class A (LMCA) $19.48 -1.77%
Cognizant Technology Solutions Corp. (CTSH) $61.44 -1.63%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $46.41 -1.44%
Liberty Media Corporation - Series C (LMCK) $18.95 -1.30%
Intuit Inc. (INTU) $106.66 -1.14%
Kraft Heinz Co. (KHC) $83.19 -1.08%
Ross Stores Inc. (ROST) $53.40 -0.96%