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Tech stocks help S&P inch higher, Home Depot weighs on Dow

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The S&P 500 eked out gains on Tuesday, boosted by technology sector, but losses ...

- The S&P 500 eked out gains on Tuesday, boosted by technology sector, but losses in consumer discretionary shares including Home Depot and Discovery kept the Dow Industrials and the Nasdaq in check.

“He is saying sort of what we have been reading: conflicting signals. If you have a positive consumer you should have a positive economy and that may be reinforced by the confidence number that assuaged a lot of investor concerns,” said Jack Ablin, chief investment officer at Cresset Capital Management in Chicago.

“The consumer confidence numbers are going to take precedence over homebuilders because it is more recent data. Also, consumer confidence affects a broader swath of the economy,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina. At 11:57 a.m. ET the Dow Jones Industrial Average was up 3.39 points, or 0.01 percent, at 26,095.34, the S&P 500 was up 2.83 points, or 0.10 percent, at 2,798.94 and the Nasdaq Composite was up 0.21 points, or 0.00 percent, at 7,554.67.

AutoZone Inc climbed 5.1 percent after the auto parts retailer posted better-than-expected quarterly same-store sales.

 

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