WALL Street stocks fell again on Tuesday, weakening in the final hour of trading following lackluster US consumer data.
US consumer confidence dipped slightly in March, according to the Conference Board, underperforming analyst expectations. The survey pointed to concerns about inflation and the US political environment.
The Dow Jones Industrial Average ended down 0.1 per cent at 39,282.33.
The broad-based S&P 500 declined 0.3 per cent to 5,203.58, while the tech-rich Nasdaq Composite Index dropped 0.4 per cent to 16,315.70.
Some saw the drop at day’s end as an indication of fatigue with the months-long rally in equities.
Among individual companies, Boeing fell 2.0 per cent after Moody’s placed it on review for a possible downgrade, citing the aviation giant’s worsening cash outlook following a serious Alaska Airlines safety incident that has slowed production of new planes.
UPS sank 8.2 per cent on disappointment with the logistics giant’s outlook. Chief executive Carol Tome told CNBC that the company’s profit picture would improve after a near-term hit from a more costly labor contract with the Teamsters union.
Trump Media & Technology Group surged 16.1 per cent in its Nasdaq debut, setting the stage for a big potential windfall for the former president. AFP
