U.S. stocks lose steam heading into final hour of trading after bouncing off key technical level
U.S. stocks appeared to lose steam heading into the last hour of trading on Tuesday as the S&P 500 ran into a wall of resistance right around its 200-day moving average, while the Dow Jones Industrial Average was off nearly 200 points from its intraday high. The S&P 500
SPX,
was up 2 points, or 0.1%, in recent trade at 4,299. Earlier, the S&P 500’s gains topped out at 4,325, which is just below its 200-day moving average of 4,326.12. The Dow Jones Industrial Average
DJIA,
traded 190 points, or 0.6%, higher at 34,100 — off 181 points from the peak level of the day. The Nasdaq Composite
COMP,
retreated 72 points, or 0.6%, to 13,050 after briefly turning positive earlier in the session. Tuesday’s rally in stocks was largely driven by a rally in retail stocks that followed strong earnings from Walmart Inc.
WMT,
and Home Depot Inc.
HD,
