TRI:CC - Dow Looks Set to End 7-Session Skid Soars 100+
The Dow Jones Industrial Average rose on Tuesday for the first positive session in seven and Wall Street readied for the end of the second quarter and first half.
The 30-stock index gained 134.87 points to break for lunch Tuesday at 33,849.58, even as Walgreens shed more than 8% after slashing its full-year profit guidance and reporting weaker-than-expected earnings. The Dow ended slightly lower for its sixth consecutive negative session and longest losing streak since September 2022.
The S&P 500 recovered 25.99 points to 4,354.81.
The NASDAQ index chugged ahead 111.41 points to 13,447.18.
Despite Monday's leg down, the S&P 500 and NASDAQ are still on pace to finish June more than 3% higher, while the Dow is poised for a monthly advance of nearly 2.6%.
Wall Street also assessed a fresh batch of economic data. That included durable goods data that showed a surprise increase and consumer confidence data that improved more than expected in June.
Consumer confidence for the month rose to an index value of 109.7, up from 102.5 in May and better than the Dow Jones estimate for 104. That was the highest reading since January 2022.
New home sales rose more than expected in May despite stubbornly high mortgage rates, according to data Census Bureau data release Tuesday.
The data showed sales rising to a seasonally adjusted annual rate of 763,000, far exceeding the 675,000 estimate expected by economists polled by Dow Jones.
Prices for the 10-year Treasury tailed off, raising yields to 3.77% from Monday's 3.71%. Treasury prices and yields move in opposite directions
Oil prices lost 59 cents to $68.78 U.S. a barrel.
Gold prices subtracted $9.80 to $1,924.20 U.S. an ounce.