US Stock Market wraps; pulls back after consumer data released missed the mark
Second session for the week ended with stocks slightly pulling down after consumer confidence data released reflected lower than anticipated.
Another report released Tuesday morning was about the home prices surging the most in about 15 years last March, reflecting the current status of the economy where the supply is not meeting the demands causing price increase.
Despite this, the Federal Open Market Committee (FOMC) strongly believes that all of these are short-term and if ever that the rising prices continues, minor changes for the monetary policy shall be implemented temporarily. They also stated that it is not good to be overly reliant on historical data in terms of judging the relationship and dynamics of inflation.
The last two trading session gave investors a brief break from last week's equity sell off, but they are still maneuvering carefully as the fear for inflation still remains.
NASDAQ Composite index was able to stay close to the red line, ending only slightly lower with less than 0.1% losses. The Dow Jones Industrial Average slid more than 80 points or 0.24%, while S&P 500 Index dropped by about 0.20%.
Listed below are the major market moves as of Tuesday:
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