Stocks Slip Despite Rise in Car Sales, Climb in Factory Orders
NEW YORK (TheStreet) -- U.S. stock markets declined Tuesday after an iffy session a day earlier. While the Dow Jones Industrial Average made the biggest gains Monday, the Nasdaq slipped and the S&P 500 all but flat-lined following an accounting error in ISM manufacturing data for May, a litmus test for broad economic health.
The Dow slipped 0.16% to 16,717.49, while the S&P 500 fell 0.15% to 1,922.16 and the Nasdaq fell 0.3% to 4,226.32.
GM shares rose 0.8% to $35.12.
U.S. factory orders rose 0.7% in April, followingd a 1.5% increase in March and a 1.7% gain in February.
European markets slipped and the euro strengthened on the latest consumer price index data which slowed to 0.5% in May, sparking concerns of deflation. The deceleration also gives the European Central Bank room to engage in monetary easing and to edge inflation higher to a target 2% when its meets on Thursday.
In individual stock movements, Hillshire Brands
Meanwhile, surf and skate clothing company Quiksilver
Keep an eye on FuelCell
-- Written by Keris Alison Lahiff in New York.
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