(NEW YORK) — Investors took a cautious approach to stocks after some discouraging economic reports. Tuesday’s session was the first trading day after the holiday weekend.
The Dow closed down 55 points, closing at 13,035.94. The index dropped below 13,000 for a brief moment Tuesday. The Nasdaq gained eight points at 3,075.06. The S&P gave up two points and closed at 1,404.94.
Trader concerns grew Tuesday after separate readings on manufacturing and construction spending were both down for August, indicating that the economy continues to experience challenges.
Still, demand for pickup trucks helped give U.S. auto sales a boost last month. Toyota sales were up more than 40 percent from a year ago. GM saw a rise of 10 percent, while Ford and Chrysler were also up double-digits.
Copyright 2012 ABC News Radio
David Goldman, CNN Newswire
Sam Turner, Deseret News