Mixed Economic Reports Lead to Down Day on Wall Street
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iStock/Thinkstock(NEW YORK) — Wall Street posted losses on Tuesday, one day after a massive winter storm struck the Northeast, shutting down transportation and knocking out power to thousands, and amidst mixed economic reports.
The Dow Jones Industrial Average closed down 291.49, finishing the session at 17,387.21.
The Nasdaq dropped 90.26 to a close of 4,681.50, while the S&P 500 dipped to 2,029.55, 27.54 off its open.
Durable goods orders decreased by $8.1 billion in December, according to the U.S. Department of Commerce — down 3.4 percent from the previous month, the fourth month out of five that durable goods orders have dropped.
On the flip side, new home sales were up 11.6 percent in December, a sign that home buying may improve in 2015.
Also on Tuesday, the Bureau of Labor Statistics released state unemployment data for December, showing that the unemployment rate in 46 states decreased from December 2013, while just two states saw higher unemployment rates than the year before.
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