U.S. Stocks Close Lower, Manage Gains For May

By Markets MarketWatch Pulse

U.S. stocks closed lower Tuesday after stronger-than-expected economic data raised the likelihood of a summer rate hike from the Federal Reserve. The Dow Jones Industrial Average fell 86.09 points, or 0.5%, to close at 17,787.13, barely holding onto a 0.1% gain for the month of May. The S&P 500 Index shed 2.10 points, or 0.1%, to finish at 2,096.96, weighed down by consumer staples and materials stocks. The index gained 1.5% over the month. On the other hand, the Nasdaq Composite Index managed a slight gain, closing up 14.55 points, or 0.3%, at 4,948.05, for a gain of 3.6% over the month of May.

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