Mixed economic data leave US stocks flat

GMT 21:58 2014 Tuesday ,25 November

Arab Today, arab today Mixed economic data leave US stocks flat

Five minutes into trade, the Dow Jones
New York - AFP

Wall Street stocks Tuesday finished little changed following data showing unexpectedly strong US economic growth in the third quarter but a drop in consumer confidence in November.
The Dow Jones Industrial Average fell 2.96 points (0.01 percent) to 17,814.94. The blue-chip index inched up to a new record at the closing bell, but closed in the red afterward.
The broad-based S&P 500 retreated slightly from Monday's record, dropping 2.37 (0.11 percent) to 2,067.04, while the tech-rich Nasdaq Composite Index added 3.36 (0.07 percent) at 4,758.25.
The Commerce Department  raised its estimate for third-quarter US economic growth to 3.9 percent from 3.5 percent. Analysts had projected a downward revision to the initial estimate.
The Conference Board said its consumer confidence index fell to 88.7 from 94.1 in October. US home prices rose 4.9 percent in September from a year ago as price gains continued to slow.
"Investors are basically saying two steps forward, one step backward and the trajectory is still higher," said Sam Stovall, chief investment strategist at S&P Capital IQ.

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