Investing.com - U.S. stocks applauded better-than-expected data out of the service sector on Tuesday, though profit taking wiped out gains in a choppy session.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.13%, the S&P 500 index fell 0.28%, while the Nasdaq Composite index rose 0.08%.
In the U.S. earlier, the Institute of Supply Management said its non-manufacturing purchasing managers' index rose to 55.4 in October from 54.4 in September, beating forecasts for a 54.0 reading.
The numbers sent stocks rising though profit taking kicked in and wiped out earlier gains, as investors felt share prices were due for a breather after a string of better-than-expected economic indicators such as industrial output, jobless claims and other gauges that have beaten consensus forecasts in recent sessions.
Investors also sold to await the release of the October jobs report due out on Friday.
Cushioning losses, however, were sentiments that the economy isn't recovering fast enough to sway the Federal Reserve to being tapering its USD85 billion bond-buying program this year.
Asset purchases aim to spur recovery by driving down borrowing costs, boosting stock prices as a side effect.
Leading Dow Jones Industrial Average performers included Cisco, up 2.15%, Microsoft, up 1.93%, and Nike, up 1.07%.
The Dow Jones Industrial Average's worst performers included AT&T, down 2.58%, Verizon, down 1.96%, and IBM, down 1.38%.
European indices, meanwhile, finished lower.
After the close of European trade, the EURO STOXX 50 fell 0.88%, France's CAC 40 fell 0.82%, while Germany's DAX 30 fell 0.31%. Meanwhile, in the U.K. the FTSE 100 finished down 0.25%.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.13%, the S&P 500 index fell 0.28%, while the Nasdaq Composite index rose 0.08%.
In the U.S. earlier, the Institute of Supply Management said its non-manufacturing purchasing managers' index rose to 55.4 in October from 54.4 in September, beating forecasts for a 54.0 reading.
The numbers sent stocks rising though profit taking kicked in and wiped out earlier gains, as investors felt share prices were due for a breather after a string of better-than-expected economic indicators such as industrial output, jobless claims and other gauges that have beaten consensus forecasts in recent sessions.
Investors also sold to await the release of the October jobs report due out on Friday.
Cushioning losses, however, were sentiments that the economy isn't recovering fast enough to sway the Federal Reserve to being tapering its USD85 billion bond-buying program this year.
Asset purchases aim to spur recovery by driving down borrowing costs, boosting stock prices as a side effect.
Leading Dow Jones Industrial Average performers included Cisco, up 2.15%, Microsoft, up 1.93%, and Nike, up 1.07%.
The Dow Jones Industrial Average's worst performers included AT&T, down 2.58%, Verizon, down 1.96%, and IBM, down 1.38%.
European indices, meanwhile, finished lower.
After the close of European trade, the EURO STOXX 50 fell 0.88%, France's CAC 40 fell 0.82%, while Germany's DAX 30 fell 0.31%. Meanwhile, in the U.K. the FTSE 100 finished down 0.25%.