S&P 500 ends day flat as benchmark continues to hover near its record; European markets close slightly higher as euro zone growth data revised higher
The S&P 500 finished Tuesday’s session near the flatline as the benchmark once again failed to refresh its all-time high from May.
The broad equity benchmark rose less than 1 point to 4,227.26, sitting 0.3% below its record high of 4,238.04 reached on May 7. The Dow Jones Industrial Average dipped 30.42 points, or 0.1%, to 34,599.82, while the tech-heavy Nasdaq Composite gained 0.3% to 13,924.91.
Tesla erased earlier gains and fell nearly 0.3% even after an increase in deliveries. The electric car maker delivered 33,463 China-made vehicles in that market in May, a 29% jump from April.
Boeing shares gained slightly after Southwest Airlines said it is upsizing its order for the smallest 737 Max model by nearly three dozen planes amid an improvement in travel demand.
The Reddit-fueled trading mania seemed to have spread to other stocks, notably Clover Health and Wendy’s on Tuesday. The health care start-up soared as much as 100% and closed the day up about 86%, while shares of the fast food chain rallied 25.8%.
European stocks closed slightly higher Tuesday after revised euro zone growth data showed the region’s economy contracted by much less than expected in the first quarter of the year.
Revised data from the EU’s statistics office Eurostat showed gross domestic product (GDP) in the 19-member euro zone contracted 0.3% quarter-on-quarter, compared with the last estimate predicting a 0.6% contraction.
Source: CNBC