Wall Street ended lower Tuesday as disappointing housing and confidence data and high energy price weighed on the market.
The U.S. Conference Board said its June consumer confidence index came in at 50.4, far below economists' expectation of 56.5 and 58.1 for May. The reading disappointed Wall Street. Moreover, S&P/Case-Shiller released that its home price index for April declined at fastest pace since 2000.
UPS, the world's largest shipping carrier, lowed its second-quarter profit expectations due to high fuel costs and slowing economy. UPS shares fell to five-year low Tuesday.
Crude futures rose 26 cents to settle at 137 U.S. dollars a barrel on the New York Mercantile Exchange, adding to investors' anxiety.
Traders are also awaiting the outcome of the Federal Reserve's two-day policy meeting on interest rates that will conclude Wednesday. Citigroup and Bank of America advanced as investors pared bets that the Federal Reserve will hike interest rates later this year.
The Dow Jones fell 34.93 to 11,807.43. Broader indexes also moved lower. The Standard & Poor's 500 index dipped 3.71 to 1,314.29, and the Nasdaq fell 17.46 to 2,368.28.
Source: Xinhua
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