US stocks close mixed amid economic data
New York: US stocks ended mixed as investors digested a slew of newly-released economic data.
The Dow Jones Industrial Average on Tuesday fell 26.72 points, or 0.10 per cent, to 25,887.38. The S&P 500 dropped 0.37 points, or 0.01 per cent, to 2,832.57, Xinhua reported.
The Nasdaq Composite Index was up 9.47 points, or 0.12 per cent, to 7,723.95.
Eight of the 11 primary S&P 500 sectors closed lower, with utilities down more than 1 per cent, leading the laggards among the groups. Health care and consumer discretionary rose 0.78 percent and 0.50 per cent, respectively, outperforming others.
On the economic front, new orders for US manufactured goods edged up 0.1 per cent in January, following a 0.1 per cent December increase, the Department of Commerce reported on Tuesday.
The reading, another sign pointing to slower economic growth, fell short of economists’ estimates of 0.4 per cent increase polled by MarketWatch.
Wall Street was also awaiting clues from the ongoing Federal Reserve’s monetary policy meeting.
Market participants will look for clues on the Fed’s economic outlook, hoping that the US central bank would adopt a dovish tone amid a slowing global growth, experts noted.
At the January meeting, the Fed pledged to be patient about future rate hikes.