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U.S. stocks fall as energy sector lags

NEW YORK
2021-05-26 04:34

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NEW YORK, May 25 (Xinhua) -- U.S. stocks gave up earlier gains to finish lower on Tuesday, amid overall weakness in energy shares.

The Dow Jones Industrial Average fell 81.52 points, or 0.24 percent, to 34,312.46. The S&P 500 decreased 8.92 points, or 0.21 percent, to 4,188.13. The Nasdaq Composite Index was down 4.00 points, or 0.03 percent, to 13,657.17.

Six of the 11 primary S&P 500 sectors ended in red, with energy and utilities down 2.04 percent and 1.18 percent, respectively, leading the laggards. Consumer discretionary rose 0.33 percent, the best-performing group.

U.S.-listed Chinese companies traded higher with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

On the economic front, U.S. Consumer Confidence Index stood at 117.2 in May, down from 117.5 in April, New York-Based The Conference Board reported on Tuesday.

"Consumers' assessment of present-day conditions improved, suggesting economic growth remains robust in Q2. However, consumers' short-term optimism retreated, prompted by expectations of decelerating growth and softening labor market conditions in the months ahead," said Lynn Franco, senior director of Economic Indicators at The Conference Board.
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