NEW YORK (TheStreet) -- The Nasdaq closed above 4,000 for the first time in 13 years on Tuesday as major markets inched higher on solid housing data.
The Dow Jones Industrial Average closed unchanged at 16,072.80 while the S&P 500 was up 0.01% to 1802.75. The Nasdaq was 0.58% higher to break the 4,000 benchmark at 4,017.75. The tech-heavy index touched 4,000 yesterday for the first time in 13 years but failed to finish above that level.
- The Conference Board Consumer Confidence index fell again in November as consumers expressed rising concern about job and earning prospects. The index had a reading of 70.4 down from 72.4 in October. Expectations were for a lift to 72.9.
- Housing permits hit a five-year high in October with home prices up 13.3 percent in September from a year earlier according to the Case-Shiller index. Building permits rose 6.2% in October to 1.034 million and were up 5.2% to 974,000 in September.
- In corporate news, Tiffany & Co TIF shares jumped 8.68% to $88.06 after it beat earnings estimates with profit of 73 cents a share. Shares in Barnes & Noble BKS shed nearly 6% after it posted a jump in fiscal second-quarter profit due to cost cutting - but a larger than expected revenue drop. Computer maker Hewlett-Packard HPQ will report quarterly earnings after market close.
- Oil prices are steadier after volatility triggered by news of Iran's nuclear deal. European markets were little changed: Germany's DAX was off 0.11% while the FTSE was down 0.87%,
-- Written by Jane Searle in New York