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Volatility Spikes as Consumer Confidence Slides; Coach Drags

4/28/15 11:57 AM EDT
Stocks had yo-yoed from minor gains to a sharp drop and back again by midday Tuesday. Markets were choppy on a mixed bag of earnings and as the Federal Reserve kicked off a two-day policy meeting. Consumer confidence in April dropped unexpectedly to its lowest level since December due to recent softness in the labor market. UPS (UPS) was giving the S&P 500 a boost as profit beat estimates and total shipment volume over its first quarter increased nearly 3%. Coach (COH) was a drag, though, after sales in North America plummeted 24%. Overall revenue tanked nearly 16% with only a portion attributable to foreign exchange.
Stocks in this video: ^DJI^GSPC^IXICUPSWHRCOH
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