NEW YORK |
NEW YORK (Reuters) – Wall Street closed its best month since October on a flat note on Tuesday as weaker-than-expected economic reports surprised investors after a stream of positive data in recent months.
Stocks have rallied sharply since late last year, partly on hopes the U.S. economy will dodge the effects of a recession in Europe. But data tested that theory on Tuesday, with U.S. home prices and business activity in the U.S. Midwest missing expectations and consumer confidence dropping unexpectedly.
However, the market reversed much of its losses that came after the publication of the data, continuing a pattern that has marked recent trading and is being seen as a sign of resilience. The SP 500 has fallen for four days, but the losses amount to little more than 1 percent.
“Once you start to get some negative numbers, especially around the consumer, it lends to the argument that GDP growth is not really there and it is going to go
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