The S&P 500 wavered between slight gains and losses on Tuesday as a sharp decline in telecom stocks and weak housing starts data overshadowed better-than-expected earnings from Walmart and Home Depot. Despite its strong results, Home Depot's shares came under pressure due to the lack of a solid outlook and the housing data. Wall Street's main indexes fell on Monday on fears that an overheating economy could prompt the Federal Reserve to rein in its monetary support following a spike in volatility last week after strong inflation readings. The benchmark S&P 500 is about 2% from its all-time high, while the tech-heavy Nasdaq is about 5% from its April 29 record high. ET, the Dow Jones Industrial Average was down 70.79 points, or 0.21%, at 34,257.00 and the S&P 500 was down 1.51 points, or 0.04%, at 4,161.78.

Source: Mint May 18, 2021 16:57 UTC