Stocks posted strong gains on Tuesday. Bank of America, Alcoa, Caterpillar, and United Technologies led advancers on the Dow. Brands rose in the wake of varied news. According to Conference Board figures, consumer confidence fell more than expected in May. The Conference Board’s index slipped 3.8 points to 64.9 this month, from a downwardly revised 68.7 in April. Economists had expected a reading of 70. On another note, crude oil shed 10 cents to settle at $90.76 a barrel. Looking ahead, monthly pending homes sales data will be released tomorrow and revised first-quarter GDP numbers will be published on Thursday. The Labor Department will issue May employment figures on Friday.
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