U.S. stocks lose steam heading into final hour of trading after bouncing off key technical level

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U.S. stocks appeared to lose steam heading into the last hour of trading on Tuesday as the S&P 500 ran into a wall of resistance right around its 200-day moving average, while the Dow Jones Industrial Average was off nearly 200 points from its intraday high. The S&P 500 SPX, +0.19% was up 2 points, or 0.1%, in recent trade at 4,299. Earlier, the S&P 500’s gains topped out at 4,325, which is just below its 200-day moving average of 4,326.12. The Dow Jones Industrial Average DJIA, +0.71% traded 190 points, or 0.6%, higher at 34,100 — off 181 points from the peak level of the day. The Nasdaq Composite COMP, -0.19% retreated 72 points, or 0.6%, to 13,050 after briefly turning positive earlier in the session. Tuesday’s rally in stocks was largely driven by a rally in retail stocks that followed strong earnings from Walmart Inc. WMT, +5.11% and Home Depot Inc. HD, +4.06%.

This article was originally published by Marketwatch.com. Read the original article here.

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