Stocks End on a Mixed Note; Dow Jones Posts Eighth Straight Higher Finish
Stocks struggled in trading on Tuesday as investors took a breather after a week-long rally. However, the Dow Jones managed to post modest gains, making it the eighth straight higher finish for the benchmark index.
The Dow Jones ended the day 0.02% higher at 14,450.06, the S&P 500 ended the day 0.24% lower at 1,552.48, and the Nasdaq ended the day 0.32% lower at 3,242.32.
Consumer Cyclical sector led the losses in the S&P 500 in trading on Tuesday, ending the day 0.70% lower. Financials also fell sharply on Tuesday, ending the day 0.66% lower. Conglomerates ended the day 0.63% lower. Technology sector ended the day 0.59% lower. Basic Materials and Healthcare were the only sectors in the S&P 500 to finish the day in green. Basic Materials sector ended the day 0.13% higher, while Healthcare sector ended the day 0.24% higher.
Among the major movers in trading on Tuesday were Urban Outfitters Inc. (NASDAQ: URBN), which ended the day 0.75% higher at $41.81, Research In Motion Ltd. (NASDAQ: BBRY), which ended the day 2.89% lower at $14.47, Apple Inc. (NASDAQ: AAPL), which ended the day 2.16% lower at $428.43, Merck & Co. Inc. (NYSE: MRK), which ended the day 3.16% higher at $45.04, and Wal-Mart Stores Inc. (NYSE: WMT), which ended the day 0.85% higher at $73.60.
European markets ended mostly higher on Tuesday, with the FTSE 100 Index closing 0.11% higher, and the CAC 40 Index in Paris closing 0.10% higher. Asian markets ended mostly lower overnight, with the Nikkei 225 Index in Japan closing 0.28% lower, and the Hang Seng Index in Hong Kong closing 0.87% lower.