The US markets recovering from the early weakness ended higher on Tuesday. Though, there were mixed set of economic data but markets climbed well off their early lows to end the session slightly higher. In initial trade there was geopolitical concern that weighed on the sentiments after news that Turkish fighter jets shot down a Russian warplane near the Syrian border. US on Monday had issued a global travel alert on the potential for terrorist attacks.
On the economy front the Commerce Department reported that economic activity increased by more than previously estimated in the third quarter. The real gross domestic product climbed by 2.1 percent in the third quarter compared to the previously reported 1.5 percent increase. But consumer spending, the main engine of US economic growth, grew below expectations, while inflation as measured by the personal consumption expenditure index increased at a 1.3% annual clip.
On the same time he Conference Board reported an unexpected deterioration in consumer confidence in the month of November. Its consumer confidence index tumbled to 90.4 in November from an upwardly revised 99.1 in October.
The Dow Jones Industrial Average gained 19.51 points or 0.11 percent to 17,812.19, the Nasdaq was up 0.33 points or 0.01 percent to 5,102.81 and the S&P 500 inched higher by 2.55 points or 0.12 percent to 2,089.14.
The Indian ADRs made a mixed closing, HDFC Bank was down by 1.07%, Tata Motors was down by 0.22% and Dr Reddy’s was down by 0.99%. On the other hand, ICICI Bank gained 0.18% and Wipro was up by 0.03%.