Tuesday March 25, 02:25 PM
U.S. stocks turn broadly lower after weak consumer confidence data
NEW YORK (Thomson Financial) - U.S. stocks turned broadly lower after the release of March consumer confidence data that was much worse than expected.
The Dow industrials were down 82 points at 12,467, with 23 of 30 components trading
lower. The Dow had been up as much as 23.20 points earlier in the session.
The Nasdaq Composite was 7 points lower at 2,320 and the S&P 500 Index slipped 5 points to 1,345, erasing earlier gains of as much as 10.78 points and 4.92 points, respectively.
In the broader market, decliners outnumbered advancers 1,478 to 1,358 on the NYSE and 1,349 to 1,109 on the Nasdaq (NASDAQ: news) .
The Conference Board said its March Consumer Confidence Index fell to 64.5 from an upwardly revised 76.4 in February, well below the median estimate of economists surveyed by IFR Markets of a slight dip to 73.0.
The Expectations Index, which measures consumers' outlook for the next 6 months, declines to 47.9, a 35-year low, from 58.0.
Tomi Kilgore
tk1
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
NNNN
|
Send Article by Email
