S&P 500 Declines After Weak Consumer Confidence Reading
The S&P 500 pulled back on Tuesday after a softer-than-expected consumer confidence reading.
The broad market index slipped 0.18%. The Dow rose as much as 110.34 points to hit an all-time high earlier in the session, but was last up 26 points, or 0.07%. The Nasdaq Composite fell 0.39%.
Consumer confidence fell to the lowest level in more than three years for September, the Conference Board said on Tuesday. The Board's Consumer Confidence Index pulled back to 98.7 for the month, down from 105.6 in August and below the 104 Dow Jones consensus estimate.
The data follows a warning from JPMorgan Chase CEO Jamie Dimon about geopolitical instability "getting worse" and being his "biggest caution." Dimon added that the worrisome backdrop could influence "the state of the economy" moving forward.
Source : CNBC