U.S. Stocks Trade Flat as Upbeat Economic Data Offset Flu Concerns

Wall Street traded flat on Tuesday, as bigger-than-expected increase in consumer confidence and a slower drop in home prices offset concerns about the swine flu outbreak and the banking industry.

The U.S. Conference Board, an economic research group, said its consumer confidence index rose to 39.2 in April, up from a revised 26.9 in March. The reading marks the highest level since November and surpasses the reading of 29.5 economists had expected.

Moreover, the Standard & Poor's/Case-Shiller index showed home prices in 20 major cities tumbled by 18.6 percent in February from a year ago. It is the first time the index didn't set a record since January 2007 and was slightly better than January's 19-percent decline.

Airlines stocks still got hammered on Tuesday on fears that worried travelers would stay home, as the deadly swine flu virus is rampant in Mexico.

Banking stocks were traded lower after the U.S. government said Bank of America Corp. and Citigroup Inc. may need more capital.

The Dow Jones industrial average was down 8.05 points, or 0.10 percent, to 8,016.95. The Standard & Poor's 500 index dropped 2.35points, or 0.27 percent, to 855.16. The Nasdaq composite index fell 5.60 points, or 0.33 percent, to 1,673.81.