At the close of trade, the Dow Jones Industrial Average index advanced 45.86 points, or 0.13%, to 34,575. The S&P 500 index fell 2.07 points, or 0.05%, at 4,202. The tech-heavy Nasdaq Composite Index fell 12.26 points, or 0.09%, to 13,736.
Total 6 out of 11 S&P 500 sectors closed up, with energy (up 3.93%), real estate (up 1.69%), materials (up 1.39%), and financials (up 0.66%) sectors being notable gainers, while healthcare (down 1.64%), utilities (down 0.62%), and information technology (down 0.42%) issues were notable losers.
Energy shares were among the best performing during the session as the OPEC+ alliance agreed to hike output in July and gave a bullish forecast. U.S. crude futures rose to their highest in more than two years
Abbott Labs shares fell 9.3% after the company cut its full-year 2021 profit forecast, citing expectations for a sharp decline in revenue from its COVID-19 tests as more Americans get vaccinated.
Cloudera Inc shares jumped 23.9% after private equity firms KKR & Co and Clayton Dubilier & Rice LLC agreed to take the data analytics firm private.
ECONOMIC NEWS: US ISM Manufacturing Activity Expands At Faster Pace In May- US manufacturing activity inched up to 61.2 in May from 60.7 in April, with a reading above 50 indicating growth in the manufacturing sector, according to a report released by the Institute for Supply Management on Tuesday. The modest increase by the headline index reflected an acceleration in the pace of new orders growth, as the new orders index climbed to 67.0 in May from 64.3 in April. On the other hand, the report showed the production index slid to 58.5 in May from 62.5 in April, indicating a slowdown in the pace of growth. The employment index also fell to 50.9 in May from 55.1 in April, suggesting only modest job growth as companies continue to note significant difficulties in attracting and retaining labor.
US Construction Spending Climbs To New Record High In April- US construction spending edged up by 0.2% to an annual rate of $1.524 trillion in April after jumping by 1% to an upwardly revised rate of $1.521 trillion in March, a report released by the Commerce Department on Tuesday showed. With the modest increase from March's upwardly revised level, the annual rate of construction spending hit a new record high in April. The report showed spending on private construction rose by 0.4% to an annual rate of $1.181 trillion in April.
Among Indian ADR, Tata Motors added 0.28% to $21.79, Wipro added 1.01% to $8.01, Dr Reddys Labs was up 1.98% to $72.78, Vedanta added 1.42% to $15.04, and WNS Holdings added 1.23% to $75.42. INFOSYS fell 0.36% to $19.27, ICICI Bank fell 0.33% to $17.95, and HDFC Bank fell 0.65% to $76.03.
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