Most stocks slipped on Wall Street, but the market hung near its highest level in 20 months following a mixed set of reports on the economy.
The S&P 500 fell 0.1% Tuesday, the Dow fell 0.2%, and the Nasdaq composite rose 0.3%.
KeyCorp led a slump for bank stocks after cutting its forecast for earnings from fees and other non-interest income. Gains for Apple and Microsoft helped to limit the market’s losses. Treasury yields fell following data that kept alive questions about whether the U.S. economy can pull off a perfect landing where it kills high inflation but avoids a recession.
On Tuesday:
The S&P 500 fell 2.60 points, or 0.1%, to 4,567.18
The Dow Jones Industrial Average fell 79.88 points, or 0.2%, to 36,124.56.
The Nasdaq composite rose 44.42 points, or 0.3%, to 14,229.91.
The Russell 2000 index of smaller companies fell 25.98 points, or 1.4% to 1,856.04.
For the week:
The S&P 500 is down 27.45 points, or 0.6%.
The Dow is down 120.94 points, or 0.3%.
The Nasdaq is down 75.12 points, or 0.5%.
The Russell 2000 is down 6.60 points, or 0.4%.
For the year:
The S&P 500 is up 727.68 points, or 19%.
The Dow is up 2,977.31 points, or 9%.
The Nasdaq is up 3,763.43 points, or 36%.
The Russell 2000 is up 94.79 points, or 5.4%.