LIVE MARKETS-Stocks dip as economic concerns, Tesla weigh
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STOCKS DIP AS ECONOMIC CONCERNS, TESLA WEIGH
After struggling for direction in the early stages of trading, U.S. stocks closed lower on Tuesday, pulled down by concerns over the resilience of the economy while declines in Tesla TSLA.O provided an additional drag.
Stocks held near the unchanged mark after the opening bell before turning decidedly lower after a report from the Federal Reserve Bank of New York said Americans grew more worried about the future of the job market in September, while at the same time bumping up projections for the future path of near-term inflation.
With the government in the midst of an extended shutdown, now the fourth-longest, investors have to rely on secondary economic indicators as official statistics are delayed.
Adding to the pressure was an afternoon drop in Tesla, with shares of the electric vehicle maker falling as much as 4.6% before closing down 4.4% after it revealed a more affordable version of its Model Y SUV and its Model 3 sedan.
That was enough to push the S&P 500 consumer discretionary .SPLRCD sector down more than 1% as the worst performer on the session, while the defensive consumer staples .SPLRCS was the best performer on the day.
Below is your closing market snapshot:
(Chuck Mikolajczak)
*****
FOR TUESDAY'S OTHER LIVE MARKETS POSTS
BOFA INSTITUTE DATA POINTS TO CONTINUED LABOR MARKET SLOWING CLICK HERE
WALL STREET STOCK INDEXES TURN RED AFTER NY FED REPORT; GOLD FUTURES CROSS $4000/OZ MARK CLICK HERE
WHY THE CONSUMER ALSO NEEDS A STRONG STOCK MARKET CLICK HERE
RETAIL INVESTORS SOLD AMD'S EYE-WATERING RALLY CLICK HERE
US FUTURES EDGE UP WITH FOCUS ON FED SPEAKERS CLICK HERE
NO NEWS IS GOOD NEWS FOR THE DOLLAR CLICK HERE
AS MARKETS RALLY, CITI FLAGS NASDAQ PROFIT-TAKING RISK CLICK HERE
FRENCH ASSETS TAKE A BREATHER, BUT UNCERTAINTY REIGNS CLICK HERE
STOXX SLIPS AS MINERS, HEALTHCARE WEIGH CLICK HERE
EUROPE BEFORE THE BELL: TEPID START IN STORE, TRADERS EYE ON FRANCE CLICK HERE
DEEPENING GLOOM IN PARIS CLICK HERE
Closing levels Oct 7 
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