Dow industrials end longest losing streak since August
The Dow Jones Industrial Average on Tuesday capped four consecutive days of losses after an unfavorable consumer confidence report, dpa reported.
The consumer confidence index dropped more than expected in January, showing that US consumers are less confident about the economy's future than previously thought.
The consumer confidence index, compiled by the Conference Board, an independent research group, fell more than 3 points to 61.1. The index reached its highest point for 2011 in December at 64.8, though Wall Street analysts had anticipated it would rise to 68 in January.
The blue-chip Dow Jones Industrial Average lost 20.81 points, or 0.16 per cent, to 12,632.91. The broader Standard & Poor's 500 Index retreated 0.6 points, or 0.05 per cent, to 1,312.41. The technology-heavy Nasdaq Composite Index dipped 1.9 points, or 0.07 per cent, to 2,813.84.
The US currency rose against the euro to 76.44 euro cents from 76.1 euro cents on Monday. The dollar dropped against the Japanese currency to 76.25 fyen rom 76.38 yen.