Investing.com - U.S. stocks finished Tuesday mixed after investors applauded a better-than-expected gross domestic product report, though disappointing data on consumer confidence allowed for profit taking.
At the close of U.S. trading, the Dow 30 fell 0.02%, the S&P 500 index fell 0.12%, while the Nasdaq Composite index rose 0.07%.
The S&P 500 VIX index, which measures the outlook for market volatility, was down 3.01% at 12.24.
The Commerce Department reported earlier that U.S. gross domestic product grew at a seasonally adjusted annual rate of 3.9% in the third quarter, topping expectations for a reading of 3.3%.
Preliminary data initially pegged U.S. growth at 3.5% in the third quarter. The U.S. economy expanded by 4.6% in the preceding quarter.
The data showed personal consumption rose 2.2% in the third quarter, beating expectations for a 1.9% gain and up from a preliminary estimate of 1.8%.
Consumer spending typically accounts for nearly 70% of U.S. economic growth, and the upbeat growth report pressured stocks higher, though a disappointing gauge on consumer confidence erased earlier gains.
The Conference Board market research group reported earlier that its consumer confidence index fell to 88.7 this month from 94.1 in October, whose figure was revised down from a previously reported 94.5.
Analysts expected the index to increase to 95.9 in November.
The Present Situation Index declined from 94.4 to 91.3, while the Expectations Index decreased sharply to 87.0 from 93.8 in October.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers were somewhat less positive about current business conditions and the present state of the job market; moreover, their optimism in the short-term outlook in both areas has waned."
Leading Dow Jones Industrial Average performers included United Technologies Corporation (NYSE:UTX), up 2.70%, Visa Inc (NYSE:V), up 1.23%, and Walt Disney Company (NYSE:DIS), up 1.19%.
The Dow Jones Industrial Average's worst performers included Home Depot Inc (NYSE:HD), down 1.39%, Chevron Corporation (NYSE:CVX), down 1.20%, and JPMorgan Chase & Co (NYSE:JPM), down 1.07%.
European indices, meanwhile, ended the day higher.
After the close of European trade, the Euro Stoxx 50 rose 0.45%, France's CAC 40 rose 0.32%, while Germany's DAX 30 rose 0.77%. Meanwhile, in the U.K. the FTSE 100 rose 0.02%.
On Wednesday, the U.S. is to release a flurry of data ahead of Thursday’s holiday, including reports on durable goods orders, unemployment claims, personal income and spending, as well as reports on new and pending home sales and revised data on consumer sentiment.