U.S. stocks slipped on Tuesday as the latest reports on home prices and consumer confidence disappointed investors.
The S&P/Case-Shiller index showed that home prices in 20 metropolitan regions fell 1 percent in October from the previous month, a much steeper drop than economists had expected. The latest data also marked the fourth straight decline for home prices, showing the housing market was still struggling since home- buyer tax credits expired earlier this year.
Meanwhile, the consumer confidence data also came in weaker than expected. According to the Conference Board, consumer sentiment slipped to 52.5 in December from an upwardly revised 54. 3 in November while analysts were expecting a moderate jump.
The Dow Jones industrial average dipped 2.05 points, or 0.02 percent, to 11552.98. The Standard & Poor's 500 index slipped 0.80 points, or 0.06 percent, to 1,256.74 and the Nasdaq edged down 6. 80 points, or 0.25 percent, to 2,660.47.
The S&P/Case-Shiller index showed that home prices in 20 metropolitan regions fell 1 percent in October from the previous month, a much steeper drop than economists had expected. The latest data also marked the fourth straight decline for home prices, showing the housing market was still struggling since home- buyer tax credits expired earlier this year.
Meanwhile, the consumer confidence data also came in weaker than expected. According to the Conference Board, consumer sentiment slipped to 52.5 in December from an upwardly revised 54. 3 in November while analysts were expecting a moderate jump.
The Dow Jones industrial average dipped 2.05 points, or 0.02 percent, to 11552.98. The Standard & Poor's 500 index slipped 0.80 points, or 0.06 percent, to 1,256.74 and the Nasdaq edged down 6. 80 points, or 0.25 percent, to 2,660.47.
