S&P Seizes All-Time High on Housing Outlook
This article has been updated to reflect John Fox's full title
NEW YORK ( TheStreet) -- Major U.S. stock markets ticked higher Tuesday after a Conference Board report showed a strengthening in consumer confidence offset indications of business weakness in the Midwest.
The S&P 500 added 0.25% to 1,597.54, snagging an all-time closing high for the index. The S&P rose 1.81% in April.
The Conference Board Consumer Confidence Index increased in April to a better-than-expected 68.1, up from 61.9 in March. Economists were expecting a rise to 60.8, according to a Thomson Reuters poll. Earlier, the Chicago Purchasing Managers Index reported that its Business Barometer fell 3.4 points to a three and-a-half year low of 49 in April, indicating that business activity weakened in the Midwestern region. It was expected to show an increase to 52.5.Pitney Bowes (PBI - Get Report), the biggest percentage decliner in the S&P, plummeted 15.6% to $13.67 after the mailing equipment and software company slashed its second-quarter dividend to 18.75 cents a share and reported first-quarter earnings of 42 cents a share on a 4% decline in revenue to $1.2 billion as its International Mailing sales came in flat from the prior year. Analysts, on average, were expecting earnings of 44 cents on revenue of $1.2 billion. "Our expectation was low single-digit organic growth
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