U.S. stocks were mixed in Tuesday afternoon trading, as market momentum slowed in the face of new increases in Treasury yields.
The market moved up on Tuesday morning after receiving better-than-expected housing data. Construction began on 1.13 million new houses in April—considerably better than the expected 1.02 million.
However, 10-year Treasury yields threatened the 2.3% level once more, while the U.S. dollar gained more than 1% against the Euro, which fell to a two-week low of almost $1.11.
The market continues to play the waiting game for tomorrow’s expected main event of the week—the Federal open Market Committee’s release of the minutes from their May meeting.
Here are the final numbers from Tuesday on Wall Street:
Dow Jones Industrial Average: 18,312.39 (+13.51)
NASDAQ: 5,070.03 (-8.41)
S&P 500: 2,127.83 (-1.37)