US Wall Street ends lower

The US share market finished volatile session in negative territory on Tuesday, 26 March 2024, as profit taking continued on caution ahead of key inflation data later this week, with losses in utilities, tech, realty, and industrial stocks offset gains in healthcare and financials.

At closing bell, the Dow Jones Industrial Average index declined by 31.31 points, or 0.08%, to 39,282.33. The S&P500 index dropped 14.61 points, or 0.28%, to 5,203.58. The tech-heavy Nasdaq Composite index sank 68.77 points, or 0.42%, to 16,315.70.

Total 8 of the 11 major S&P 500 sectors declined, with utilities sector being bottom performer, falling 1.14%, followed by information technology (down 0.76%) and real estate (down 0.45%). Healthcare sector was top performer, rising 0.34%.

 

ECONOMIC NEWS: The Commerce Department released a report on Tuesday showing durable goods orders jumped by 1.4% in February after plummeting by a revised 6.9% in January. Orders for transportation equipment led the way higher, surging by 3.3% in February after plunging by 18.3% in January. Excluding the rebound in orders for transportation equipment, durable goods orders climbed by 0.5% in February after falling by 0.3% in January.

Meanwhile, the Conference Board released a separate report showing consumer confidence index slipped to 104.7 in March from a downwardly revised 104.8 in February.

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