Sun, Nov 22 2009
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US stocks down on dip in consumer confidence SARA LEPROAP Business Writer About two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 241.4 million shares, compared with 191.5 million shares at the same time the previous day. On Monday, a surge in oil prices drove energy, industrial and material stocks higher and helped push the Dow up nearly 91 points. The S&P 500 index added 8 points, while the Nasdaq rose 5. Investors have been more guarded as data shows much pain still exists in both the U.S. and economies around the world. Earlier Tuesday, the Standard & Poor's/Case-Shiller index showed home prices in 20 major cities dropped by 18.1 percent from April 2008. The 10-city index fell 18 percent from the year before. April marked the third straight month both indexes didn't set record price declines. There was also disappointing news from abroad. Japan's unemployment rate jumped to a five-and-a-half year high in May, the government reported. Meanwhile, Britain said its economy shrank in the first quarter by more than originally reported — the worst drop in half a century. Later this week, investors will get a key report on the manufacturing sector as well as the much anticipated monthly unemployment tally. Markets are closed Friday in observance of the Independence Day holiday. 
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