US open: Major indices little changed as GDP beats, confidence slips

(Sharecast News) - Major indices were little changed early on Tuesday as market participants digested a number of data points.

As of 1530 GMT, the Dow Jones Industrial Average was up 0.07% at 48,396.24, while the S&P 500 advanced 0.08% to 6,883.80, and the Nasdaq Composite came out of the gate 0.02% firmer at 23,434.13.

The Dow opened 33.56 points higher on Tuesday, extending gains recorded in the previous session.

Tuesday's primary focus will be a deluge of macro data, with a preliminary reading of Q3 GDP figures revealing the US economy expanded at an annualised rate of 4.3% in three months ended September, according to the Bureau of Economic Analysis, up from 3.8% in April-June, driven by higher consumer and government spending along with exports.

Q3's preliminary reading, which was postponed due to the Federal government shutdown, beat forecasts of a slowing to 3.3% and also left investors believing that an early 2026 interest rate cut from the central bank now looks less likely to appear.

Elsewhere, Durable goods orders decreased by 2.20% to $307.4bn in October, according to the Census Bureau, more than erasing September's upwardly revised 0.7% increase. September's larger than expected decline comes as orders for transportation equipment fell 6.5% to $103.8bn, while non-defence and defence aircraft orders fell 20.1% to $17.4bn and 32.4% to $6.1bn, respectively.

On another note, US capacity utilisation edged up to 76.0% in November, according to the Federal Reserve, but remained 3.5 points below its long-term average, while industrial production increased 2.5% year-on-year, the most since September 2022.

Still on data, consumer confidence declined by 3.8 points in December to 89.1, according to the Conference Board, with the present situation index plummeting by 9.5 points to 116.8, while the expectations index held steady at 70.7.

"Despite an upward revision in November related to the end of the shutdown, consumer confidence fell again in December and remained well below this year's January peak. Four of five components of the overall index fell, while one was at a level signaling notable weakness," said Dana Peterson of the Conference Board.

Finally, the Richmond Federal Reserve's manufacturing index rose to -7 in December, up from -15 in November, in line with expectations.

No major corporate earnings were slated for release on Tuesday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Apple Inc. (AAPL) $271.25 0.10%

Amgen Inc. (AMGN) $331.69 0.09%

Dow Jones - Fallers

Intel Corp. (INTC) $36.15 -0.62%

Cisco Systems Inc. (CSCO) $77.87 -0.31%

S&P 500 - Risers

Gilead Sciences Inc. (GILD) $126.59 1.96%

Amazon.Com Inc. (AMZN) $230.46 0.89%

Alphabet Inc. Class A (GOOGL) $312.45 0.86%

Alphabet Inc. Class C (GOOG) $313.88 0.82%

Regeneron Pharmaceuticals Inc. (REGN) $783.59 0.54%

eBay Inc. (EBAY) $84.39 0.46%

Nasdaq Inc (NDAQ) $97.82 0.37%

Nvidia Corp. (NVDA) $184.35 0.36%

Northern Trust Corp. (NTRS) $140.76 0.36%

Xcel Energy Inc. (XEL) $74.10 0.34%

S&P 500 - Fallers

Starbucks Corp. (SBUX) $84.11 -2.39%

Tractor Supply Company (TSCO) $50.58 -2.20%

American Airlines Group (AAL) $15.94 -2.00%

Synopsys Inc. (SNPS) $472.80 -1.75%

PepsiCo Inc (PEP) $144.64 -1.64%

Align Technology Inc. (ALGN) $156.74 -1.60%

DENTSPLY Sirona Inc. (XRAY) $11.10 -1.47%

LKQ Corporation (LKQ) $29.79 -1.44%

Idexx Laboratories Inc. (IDXX) $692.47 -1.38%

Akamai Technologies Inc. (AKAM) $88.88 -1.36%

Nasdaq 100 - Risers

Biomarin Pharmaceutical Inc. (BMRN) $61.17 3.19%

Gilead Sciences Inc. (GILD) $126.59 1.96%

Vodafone Group Plc ADS (VOD) $13.06 1.36%

Amazon.Com Inc. (AMZN) $230.46 0.89%

Alphabet Inc. Class A (GOOGL) $312.45 0.86%

Alphabet Inc. Class C (GOOG) $313.88 0.82%

T-Mobile Us, Inc. (TMUS) $196.95 0.61%

Regeneron Pharmaceuticals Inc. (REGN) $783.59 0.54%

eBay Inc. (EBAY) $84.39 0.46%

Nvidia Corp. (NVDA) $184.35 0.36%

Nasdaq 100 - Fallers

Starbucks Corp. (SBUX) $84.11 -2.39%

American Airlines Group (AAL) $15.94 -2.00%

Baidu Inc. (BIDU) $122.04 -1.90%

Trip.com Group Limited (TCOM) $72.36 -1.90%

Synopsys Inc. (SNPS) $472.80 -1.75%

Align Technology Inc. (ALGN) $156.74 -1.60%

DENTSPLY Sirona Inc. (XRAY) $11.10 -1.47%

Workday, Inc. (WDAY) $214.83 -1.45%

Idexx Laboratories Inc. (IDXX) $692.47 -1.38%

Seagate Technology Plc (STX) $279.17 -1.30%