Stocks finished lower Tuesday. The Dow fell 69 points to 26492, while the S&P 500 declined 3 points to 2915. The Nasdaq Composite added 14 points to 8007.
The major averages fluctuated throughout the day before ultimately ending in negative territory amid rising trade concerns. In geopolitical news, President Trump addressed the UN General Assembly and reiterated his desire to negotiate “fair” trade deals for the United States. On the data front, an update from the Conference Board revealed consumer confidence climbed to the highest level in 18 years in September. Separately, a report from S&P/Case-Shiller showed housing prices in 20 U.S. cities grew at the slowest rate in nearly a year during July.
Eight of 11 S&P 500 sectors finished lower with Utilities lowest for the session. Consumer Staples also underperformed as higher commodity costs and trade concerns weighed on the group. Energy shares were up the most as oil prices hovered near four year highs. Consumer Discretionary stocks outperformed as McDonald’s climbed 1.9% to $166.41 and Amazon added 2.1% to $1974.55. Elsewhere, Nike advanced 0.6% to $84.79 ahead of its earnings report after the closing bell.
Breadth was negative on issues by roughly 6:5 on the NYSE and slightly positive on issues on the Nasdaq. Composite NYSE volume was more than 3.2 billion shares.
Treasuries were weaker along the curve, as the yield on the benchmark 10-year note climbed one basis point to 3.09%. In commodities, WTI crude added 0.3% to $72.29/barrel. COMEX gold was up 0.1% to $1200.20/ounce amid a weaker dollar.