New York stocks began to edge higher on Tuesday, thereby marking a comeback following a run of losing days. The Dow Jones Industrial Average embarked on its sixth consecutive daily loss on Monday, while the Nasdaq incurred five losses over the past six sessions.
The S&P 500 edged around 0.3% higher on Tuesday, while the tech-heavy Nasdaq Composite Index was up 0.4%. The Dow Jones Industrial Average remained relatively unchanged.
Investors’ focus is now turning to the release of key economic data later in the week. Updates on home sales and durable goods are expected to provide investors with an indication of the health of the U.S. economy, especially as concerns rise regarding further Federal Reserve rate hikes and how they may push the chance for recession upwards.
Home prices rose in April; the third consecutive monthly increase as indicated by The S&P CoreLogic Case-Shiller US National Home Price Index.