US stocks flat ahead of confidence data
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NEW YORK, Jan 2 AFP
January 30 2013, 01:58AM
US stocks are treading in place ahead of a key consumer confidence report, despite a series of better-than-expected company earnings.
In the first five minutes of trade, the Dow Jones Industrial Average was up 10.75 points (0.08 per cent) at 13,892.68.
The S&P 500, a broad measure of the markets, edged up 0.22 point (0.01 per cent) to 1,500.40.
The tech-rich Nasdaq Composite Index fell 7.94 (0.25 per cent) to 3,146.36.
"Investors are cautious ahead of several economic reports and as the Federal Reserve kicks off its two-day policy meeting," Wells Fargo Advisors said in a market note.
The Conference Board is scheduled to release its consumer confidence data for November at 1500 GMT (0200 AEST).
Stocks closed mostly lower Monday after a string of rallies that left the indices at multi-year highs. The Dow dropped 0.10 per cent and the S&P 500 fell 0.18 per cent, while the Nasdaq gained 0.15 per cent, lifted by Apple.