Stocks slip as mixed data limit buying
New York stocks eased with mixed home price and consumer confidence results. IBM raised the Dow with more buybacks while Baidu warned of revenue pressure causing a Nasdaq dip. Bond yields fell after strong two year note demand. The Dow edged up 32 points while the S P 500 and Nasdaq declined. The dollar's strength pressured commodities and stocks near a market high.
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Confidence sinks as job outlook worsens in October
The Conference Board’s Consumer Confidence Index fell to 47.7 in October, the second lowest since May, underlining bleak job prospects and likely hampering holiday spending. Analysts had expected 53.1, signaling slower consumer spending and a cautious holiday season ahead. The report followed mixed housing data and a Dow Jones uptick to around 9,932.20.
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