Stocks Continue To See Modest Strength

After an early mover to the upside, stocks have given back some ground but remain mostly positive in afternoon trading on Tuesday.

Currently, the Dow is up 13.39 points or 0.1 percent at 22,309.48, the Nasdaq is up 24.58 points or 0.4 percent at 6,395.17 and the S&P 500 is up 3.94 points or 0.2 percent at 2,550.60.

The strength on Wall Street comes on the heels of the pullback seen in the previous session, although buying interest has remained somewhat subdued.

On the U.S. economic front, the Commerce Department released a report showing an unexpected decrease in new home sales in the month of August.

The Commerce Department said new home sales tumbled by 3.4 percent to an annual rate of 560,000 in August from the revised July rate of 580,000.

The decline surprised economists, who had expected new home sales to climb to a rate of 583,000 from the 571,000 originally reported for the previous month.

A separate report from the Conference Board showed a deterioration in consumer confidence in the month of September.

The Conference Board said its consumer confidence index dropped to 199.8 in September from a revised 120.4 in August. Economists had expected the index to slide to 120.2 from the 122.9 originally reported for the previous month.

Traders have not paid much attention recent economic reports, as the data was impacted by Hurricanes Harvey and Irma.

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Tuesday. Japan’s Nikkei 225 Index fell by 0.3 percent, while Hong Kong’s Hang Seng Index inched up by 0.1 percent.

Meanwhile, the major European markets also ended the day mixed. While the U.K.’s FTSE 100 Index dipped by 0.2 percent, the French CAC 40 Index closed just above the unchanged line and the German DAX Index edged up by 0.1 percent.

In the bond market, treasuries are giving back ground following the strength seen in the previous session. As a result, the yield on the benchmark ten-year note, which…

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