Wall Street is struggling to end two-day slide
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Stocks were mixed Tuesday morning despite a better-than-expected consumer confidence report and some positive earnings news.
At 9:35 a.m. PDT, the broad S&P 500 index was ahead 0.1%, the Dow was up 0.3% and the Nasdaq was down 0.2%.
The early winners included McCormick & Co., the spice and seasoning company, which was up nearly 6% after the company reported earnings that beat analysts’ estimates. Walgreen Co. was up 3% after the drug-store chain announced plans to close 76 stores, while fast-food chain Sonic jumped 9% after posting better-than-expected profit.
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Cruise line operator Carnival Corp. was down about 3% after lowering its full-year profit forecast amid higher costs and lower ticket prices.
The sluggish day on Wall Street came even after an index measuring U.S. consumer confidence rose to the highest level in six years. On the downside, fewer people bought U.S. homes in February as sales fell to the lowest level in five months.
Bond prices fell. The yield on the 10-year Treasury note climbed to 2.74% from 2.73% late Monday.
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