US stocks mixed in subdued trading; Cyber Monday sales in focus
Investing.com — U.S. stocks traded in a mixed fashion around the flatline Tuesday, as investors take stock of the strong gains in November so far while digesting clues about the spending habits of U.S. consumers heading into the key holiday shopping season.
By 09:30 ET (14:30 GMT), the Dow Jones Industrial Average rose 14 points, or 0.1%, 2hile the S&P 500 traded 6 points, or 0.1%, lower and the NASDAQ Composite dropped 5 points, or 0.1%.
The main Wall Street indices are on course to post strong gains in November — the DJIA set to finish the month 6.9% higher, the S&P 500 up 8.5% and the technology-heavy Nasdaq 10.8% higher.
The focus Tuesday is on the retail sector, with spending by American consumers expected to have surged to an all-time high of over $12 billion on Cyber Monday, the biggest U.S. online shopping day, according to preliminary estimates from Adobe (NASDAQ:ADBE) Digital Insights cited by Reuters.
A record number of holiday shoppers are also expected to use buy now, pay later services given the financially-stressed nature of many consumers.
This resulted in fintech company Affirm (NASDAQ:AFRM) posting share price gains of almost 12% on Monday, and the company traded a further 2.4% higher early Tuesday.
Elsewhere, Zscaler (NASDAQ:ZS) stock fell 3.2% after the cybersecurity company kept its full-year billings forecast unchanged even after it topped estimates with its results for the latest quarter.
Cybersecurity technology company CrowdStrike (NASDAQ:CRWD) is expected to report earnings after the bell.
The economic data slate saw U.S. annual home price growth accelerated again in September, rising 6.1% on a year-over-year basis in September, up from an upwardly revised 5.8% increase in the prior month.
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