U.S. stocks trade lower in holiday-thinned trading

0 Comment(s)Print E-mail Xinhua, January 1, 2020
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NEW YORK, Dec. 31 (Xinhua) -- U.S. stocks traded lower on Tuesday, the last trading day of 2019, for lack of fresh catalysts.

At midday, the Dow Jones Industrial Average fell 59.40 points, or 0.21 percent, to 28,402.74. The S&P 500 was down 5.57 points, or 0.17 percent, to 3,215.72. The Nasdaq Composite Index fell 2.39 points, or 0.03 percent, to 8,943.60.

More than half of the Dow component companies traded in red territory, with Walmart dropping 0.93 percent, leading the laggards.

Nine of the 11 primary S&P 500 sectors declined with consumer staples down 0.41 percent, the top loser.

On the economic front, U.S. consumer confidence decreased to 126.5 in December from 126.8 in November, according to a report released by The Conference Board, a New York-based member-driven economic think tank, on Tuesday.

Lynn Franco, director of economic indicators at The Conference Board, said while consumers' assessment of current conditions improved, their expectations declined, driven primarily by a softening in their short-term outlook regarding jobs and financial prospects.

"While the economy hasn't shown signs of further weakening, there is little to suggest that growth, and in particular consumer spending, will gain momentum in early 2020," Franco said in a press release. Enditem

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