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Dow Jones gives back early gains amid tariff and US data swing
August consumer confidence slipped to 89.4, while July new home sales fell 10.5% month over month.
The Dow Jones Industrial Average built a roughly 300-point advance before giving it all back in a sharp reversal, trading just below 53,500 for a gain of about 0.1%, according to FXStreet.
The move reflected competing forces, with investors weighing a pullback in Treasury yields and optimism around Nvidia results on one side, and a weaker economic mix plus tariff headlines on the other.
Consumer confidence for August fell to 89.4, down 0.8 points and below the 90.2 consensus, with the deterioration driven by expectations. In housing, new home sales dropped 10.5% month over month in July after a 7.6% decline in June, while the June Housing Price Index was flat.
FXStreet also pointed to tariff-related developments, saying Canada matched US weekend tariff moves with duties that will take effect September 8. The Canadian countermeasures span 15%, 25%, and 50% across more than 700 US goods valued at about $27.6 billion.
Latest closeDow Jones 53,732.41 ▼0.2%