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US Markets Mixed on Tuesday as Consumer Confidence Falls

- By Omar Venerio

U.S. stock market indexes were mixed on Tuesday, impacted by the consumer confidence index, which fell to 120.2 in January from 126.6 in December. The Dow Jones Industrial Average gained 90 points to 24,619, the S&P 500 index declined 0.10% to 2,641 and the Nasdaq Composite Index retreated 0.63% to 7,041.

Shares of Verizon Communications Inc. (VZ) fell almost 2% on Tuesday after the company announced fourth-quarter results. It reported revenue grew 0.9% year over year to $34.28 billion, but fell $160 million short of expectations. Earnings were $1.12 per share, beating estimates by 3 cents.


For full-year 2018, adjusted earnings were $4.71 per share versus $3.74 in 2017.

"Verizon finished 2018 by delivering solid financial and operational performance, as evidenced by our strong wireless service revenue and earnings growth," CEO Hans Vestberg said.

Looking ahead to full fiscal 2019, the company expects low single-digit revenue growth.

Gainers

  • Xerox Corp. (XRX)
  • Dover Corp. (DOV)
  • L3 Technologies Inc. (LLL)
  • Helmerich and Payne Inc. (HP)



Losers

  • Allergan PLC (AGN)
  • Advanced Micro Devices Inc. (AMD)
  • Nvidia Corp. (NVDA)
  • Carmax Inc. (KMX)
  • Electronic Arts Inc. (EA)



Global markets

The main European stock markets traded higher. The U.K.'s FTSE 100 jumped 1.29%, France's CAC 40 rose 0.81%, Germany's Dax gained 0.08% up and Spain's IBEX 35 swelled 0.63%.

In Asia, Japan's Nikkei 225 gained 0.08%, India's BSE Sensex dipped 0.18%, Hong Kong's Hang Seng fell 0.16% and China's Shanghai Composite lost 0.10%.

Disclosure: The author holds no positions in any stocks mentioned.

This article first appeared on GuruFocus.