Stocks Move Higher After Nasdaq, S&P 500 Records – The Wall Street Journal

https://www.wsj.com/articles/global-stock-markets-dow-update-06-29-21-11624952208


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U.S. stocks rose Tuesday, pushed higher by gains in economically sensitive stocks, as new data revealed strong consumer confidence in the U.S. economic recovery.

The S&P 500 added 0.1%, on pace to notch a new record high, as shares of energy stocks, homebuilders and other economically sensitive companies rallied. The Dow Jones Industrial Average added about 75 points, or 0.2%.

The Nasdaq Composite, in contrast, wobbled between gains and losses, recently hovering near the flatline, as many of the megacap technology stocks that drove Monday’s gains pulled back. Facebook , which closed Monday with a market capitalization above $1 trillion for the first time, fell 1.8%.

Driving Tuesday’s gains in cyclical stocks was data from private research group The Conference Board, which showed its index of consumer confidence rose in June, beating analysts’ expectations. Additional data released Tuesday also showed that home-price growth climbed to a record high in April.

Shares of homebuilders including PulteGroup and Lennar each rallied nearly 2% or more.


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