Consumer confidence fell in November for the fourth month in a row, with the Conference Board’s index falling from 125.5 from 126.1 in October, below economists expectations of a 128.2 reading, according to a MarketWatch poll. New-home sales fell in October to a seasonally adjusted annual rate of 733,000, from 738,000 in September. But the Case-Shiller home-price index for September showed home prices rising nationally at a 3.2% annual pace, up from a 3.1% rise in August.
What stocks were in focus?
Walt Disney Co . /zigman2/quotes/203410047/composite DIS +1.55% shares led the Dow’s advance and reached a record high after a report found that close to a million new subscribers a day are signing up for its newly launched digital streaming service, Disney+, less than two weeks after its initial rollout.
Shares of Best Buy Co. Inc . /zigman2/quotes/205918291/composite BBY +0.87% rose 9.8% after the electronics retailer reported better-than-expected third-quarter sales and profits and raised its guidance for full-year, same-store-sales growth.
Shares of Burlington Stores Inc. /zigman2/quotes/203203718/composite BURL +0.45% added 8.5% after the company reported a stronger-than-expected rise in third-quarter same-store sales and earnings and revenues that topped estimates.
Shares of Chinese e-commerce giant Alibaba /zigman2/quotes/201948298/composite BABA +0.73% jumped in their debut on the Hong Kong stock exchange on Tuesday, an upbeat launch amid unrest in the former British colony.
Shares of Hewlett Packard Enterprise Co. /zigman2/quotes/201998588/composite HPE +0.63% were in focus after the computing giant late Monday reported fourth-quarter revenue that fell short of Wall Street forecasts. Shares fell 8% Tuesday.
Xerox Holdings Corp . /zigman2/quotes/201169674/composite XRX -1.21% shares edged lower after the company said it will take its $33 billion takeover proposal for larger rival HP Inc. /zigman2/quotes/203461582/composite HPQ +0.85% directly to shareholders unless the two sides are able to agree on access to private financial information.
Shares of Teva Pharmaceutical Industries Ltd . /zigman2/quotes/205657894/composite TEVA +9.17% , Mallinckrodt /zigman2/quotes/209283217/composite MNK +7.56% , Amneal Pharmaceuticals Inc . /zigman2/quotes/209301288/composite AMRX +1.88% , and Johnson & Johnson /zigman2/quotes/201724570/composite JNJ -0.13% and other opioid makers and distributors dropped after the Wall Street Journal reported that the government had launched a criminal probe into corporate ties to the opioid crisis.
Shares of Dollar Tree /zigman2/quotes/203712248/composite DLTR +1.00% , the poorest performer on the S&P 500 and the Nasdaq, plunged 15% after the discount chain’s weaker-than-expected third quarter earnings, but held to its full-year sales forecasts, and it also warned that import tariff increases and store closure costs would trim its bottom line.
The Wall Street Journal reported Monday that activist investor Starboard Value LP took a stake in CVS Health Corp. /zigman2/quotes/209664499/composite CVS -0.31% and held talk with the drugstore-and-insurance company’s management, according to people familiar with the matter. CVS shares fell 2% Tuesday.
Palo Alto Networks Inc. /zigman2/quotes/207599953/composite PANW -0.20% stock tumbled 11% after the security-software company reported fiscal second-quarter earnings Monday evening that missed expectations on adjusted earnings and said it would acquire the firm Aporeto for $150 million in cash.
How did other markets trade?
In commodities markets, oil extended Monday’s gains, with West Texas Intermediate Crude for January delivery adding 40 cents, or 0.6%, at $58.41 per barrel. Gold prices settled higher, with gold for December delivery rising $3.40, or 0.2% to $1,460.30 an ounce.
In Asia overnight, stocks closed mostly higher, with the China CSI 300 /zigman2/quotes/210598128/delayed XX:000300 +2.30% gaining 0.4% and Japan’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +0.34% adding 0.4%. Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.17% , meanwhile fell 0.3%.
In Europe, stocks closed mixed, with the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.32% up 0.1%, to 408.49, reaching a new 52-week high, according to Dow Jones Market Data.