US stocks lose traction Tuesday

U.S. stock markets gave up early gains Tuesday despite reports on consumer confidence and home prices. The Conference Board in New York said the monthly index that measures consumer sentiment on the overall economy and the relative difficulty of finding work, added nine points in the month to 70.3, well ahead of the consensus forecast, which predicted a reading of 63 compared with the 61.3 level in August. The closely watched Standard & Poor's/Case-Shiller home price index released Tuesday indicated home prices in a 20-city grouping rose 1.2 percent on an annual basis in July, also beating expectations. In early afternoon trading, the Dow Jones industrial average shed 15.47 points, or 0.11 percent, to 13,543.45. The tech-dominated Nasdaq Composite index gave up 6.27 points, or 0.2 percent, to 3,154.51. The S&P 500 lost 2.06 points, 0.14 percent, to 1,454.83. The benchmark 10-year treasury rose 1/32 to yield 1.711 percent. The euro rose to $1.2952 from Monday's $1.2931. The U.S. dollar rose to 77.86 yen from 78.85 yen. In Tokyo, the Nikkei 225 index gained 0.25 percent, 22.25 points, to 9,091.54. In London, the FTSE 100 index gained 0.36 percent, 20.87 points, to 5,859.