Investing.com - U.S. stocks finished Tuesday mixed to lower as sinking oil prices brought down energy-sector shares, though upbeat U.S. data managed to cushion losses.
At the close of U.S. trading, the Dow 30 fell 0.18%, the S&P 500 index fell 0.05%, while the NASDAQ Composite index rose 0.39%.
The Volatility S&P 500 index, which measures the outlook for market volatility, was up 2.25% at 12.25.
Oil prices plunged earlier and took energy equities down with them, which reflected in broader U.S. stock indices.
While the U.S. economy continues to show signs of improvement, the global economy may be battling headwinds, concerns of which that battered crude prices earlier Tuesday.
China’s official manufacturing index ticked down to 51.1 from 51.7 in July, while the HSBC manufacturing index slowed to 50.2 from 50.3 the previous month.
Both figures missed expectations, which sent oil prices falling amid concerns that demand in the world's second-largest consumer of oil and a major manufacturing hub may be slipping, and Wall Street energy stocks followed suit.
Meanwhile, a stronger U.S. currency—the product of upbeat data—pushed prices oil prices even lower, as a firmer greenback makes crude prices less attractive on dollar-denominated exchanges, especially in the eyes of investors holding other currencies.
The greenback firmed after the Institute for Supply Management reported that its manufacturing purchasing managers’ index jumped to 59.0 in August from 57.1 in July, defying analysts' calls for the index to tick down to 56.8.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
The new orders component of the index rose to 66.7, an increase of 3.3 points from 63.4 in July.
The employment index grew for the fourteenth consecutive month the report said, registering 58.1, down 0.01 points from 58.2 in July.
Also in the U.S., the Census Bureau reported earlier that U.S. construction spending rose to 1.8% in July from -0.9% in June, whose figure was revised up from -1.8%.
Analysts had expected U.S. construction spending to rise to 1.0% last month, an the day's upbeat data did cushion losses somewhat.
Meanwhile in company news, home-improvement retailer Home Depot Inc (NYSE:HD) shares took a hit on news it maybe have been the victim of a hacker attack that compromised customer credit-card data.
Elsewhere, Dollar General Corporation (NYSE:DG) increased its offer for Family Dollar Stores Inc (NYSE:FDO), while Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH) agreed to buy Prestige Cruises International for $3.03 billion including debt.
Leading Dow Jones Industrial Average performers included Walt Disney Company (NYSE:DIS), up 1.02%, Visa Inc (NYSE:V), also up 1.02%, and United Technologies Corporation (NYSE:UTX), up 0.94%.
The Dow Jones Industrial Average's worst performers included Home Depot Inc (NYSE:HD), down 2.52%, Chevron Corporation (NYSE:CVX), down 1.48%, and Intel Corporation (NASDAQ:INTC), down 1.05%.
European indices, meanwhile, ended the day largely higher.
After the close of European trade, the DJ Euro Stoxx 50 rose 0.11%, France's CAC 40 fell 0.03%, while Germany's DAX rose 0.30%. Meanwhile, in the U.K. the FTSE 100 rose 0.06%.
On Wednesday, the U.S. is to publish data on factory orders.