US stocks saw choppy moves on Tuesday, with technology stocks continuing to struggle. The markets are also recovering from a weak start to the year, having declined from record highs in December. The S&P 500 rose 0.1% to 5,842.86 points on Tuesday, while the NASDAQ Composite fell 0.2% to 19,044.39 points. The Dow Jones Industrial Average added 0.5% to 42,518.28 points. Sentiments were somewhat supported after the yield on the benchmark ten-year note, which moves opposite of its price, edged down marginally.
Impressive strength was also visible among housing stocks, as reflected by the 2.7 percent surge by the Philadelphia Housing Sector Index. In a key economic update, the Labor Department said its producer price index for final demand crept up by 0.2 percent in December after climbing by 0.4 percent in November. The annual rate of producer price growth accelerated to 3.3 percent in December from 3.0 percent in November. The monthly uptick by producer prices was largely due to a sharp increase by energy prices, which spiked by 3.5 percent in December after coming in unchanged in November. Core producer prices, which exclude prices for food, energy and trade services, inched up by 0.1 percent in December, matching the uptick seen in November.
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