Stocks turned negative a day after their sharp rally. While some was profit taking after the recent run up, two data points came in as misses. The Dow closed down yesterday nearly 44 points to 13,197. The Nasdaq ended the day essentially flat, down just over 2 points to 3,120.35. Rounding out the mostly flat day was the S&P 500, down almost 4 points to 1,412.

Decliners lead advancers marginally across the major indices. The two major economic data points that were released Tuesday both missed expectations to the downside. Consumer confidence printed a 70.2 down from a 71.6. The Case Shiller Home Price Index hit a 9-year low as housing prices just refuse to recover. [Read more...]