Dow34312.46-81.52(-0.24%)Nasdaq13657.20-4.00(-0.03%)SP 5004188.13-8.92(-0.21%)10-yr Note +4/321.557NYSEAdv 1225 Dec 2003 Vol 895.2 mlnNasdaqAdv 1500 Dec 2685 Vol 4.0 bln Industry Watch Strong: Consumer Discretionary, Real Estate, Information TechnologyWeak: Energy, Utilities, Financials, Materials Moving the Market -- Market closes mostly lower amid lack of conviction-- Investors reassessed growth outlook after new home sales for April and consumer confidence for May missed expectations -- 10-yr yield continued to dip Stocks slightly lower following quiet session U.S. equities were little changed at midday, but finished marginally lower, as investors digested mixed housing and strong air travel data points. Housing stocks got a boost from a positive pre-announcement from home builder KB Home (KBH), which reported a 155% year-over-year increase in net orders for Q2 through May 21. Good news on the air travel front came in the form of United Airlines (UAL) raising its outlook for June quarter pricing to be down less than it had previously expected. A majority of the 10 best performing stocks in the S&P 500 today were airlines, cruise lines, or linked to homebuilding as investors leaned into the recovery theme. Low volatility, declining U.S. Treasury yields, and low trading volumes made for a typical Tuesday session before a holiday. ECONOMIC EVENTS: In the U.S., the Conference Board Consumer Confidence Index slipped to 117.2 in May, which was down marginally from 117.5 in April and weaker than forecast. The FHFA home price index rose 1.4% to 324.9 in March, which was stronger than forecast. The S&P Case-Shiller 20-city home price index jumped 2.2% to 251.6 in March, which was also better than expected. New home sales declined 5.9% to a 863,000 rate in April. The Richmond Fed index edged up to 18 in May from 17 in April. TOP NEWS: Shares of several airlines rose after executives from the companies made positive comments at conferences or issued updated guidance. United Airlines disclosed in a filing that the company has experienced an acceleration in ticketed yields for the second quarter, ahead of previous expectations. As a result, the company now expects total Revenue per Available Seat Mile, or RASM, to be down around 12% for the second quarter versus the second quarter 2019. This compares to previous guidance of down approximately 20%. Meanwhile, Delta (DAL) executives said at the the Wolfe Transportation and Industrials Conference that the pace of recovery has been faster than expected and that recently each month's bookings are higher than the previous month. In COVID-19 news, Moderna (MRNA) announced that the Phase 2/3 study of its COVID-19 vaccine, mRNA-1273, in adolescents has met its primary immunogenicity endpoint. In the TeenCOVE study, which enrolled more than 3,700 participants ages 12 to less than 18 years in the U.S., no cases of COVID-19 were observed in participants who had received two doses of the Moderna COVID-19 vaccine using the primary definition, the company said. Stephane Bancel, CEO of Moderna, said, "We will submit these results to the U.S. FDA and regulators globally in early June and request authorization. We remain committed to doing our part to help end the COVID-19 pandemic." Shares of electric truck making hopeful Lordstown Motors (RIDE) slipped 7.45% after the company reported a larger than expected loss and higher cash consumption in Q1 while also reducing its forecasts and discussing a need for outside capital. In other EV news, Reuters reported that Ford (F) intends to announce Wednesday that it will make two dedicated all-electric vehicle platforms, one for full-size trucks and SUVs and another for cars and smaller SUVs. The all-EV platforms are part of a broad, multi-year, multi-billion dollar plan that Ford will outline to shareholders at its Capital Markets Day in an online event, according to Reuters. Washington D.C. Attorney General Karl Racine has filed a lawsuit in D.C. Superior Court that alleges Amazon (AMZN) illegally maintained monopoly power by using contract provisions to prevent third-party sellers on its platform from offering their products for lower prices on other platforms. The attorney general's office claims in its suit that Amazon's contracts create a "an artificially high price floor across the online retail marketplace." MAJOR MOVERS: Among the noteworthy gainers was Shake Shack (SHAK), which rose 4.5% after the recent pullback in the shares prompted dual upgrades from Wedbush and Goldman Sachs. Also higher was Provention Bio (PRVB), which rose 26.8% after the FDA posted briefing documents for the May 27 advisory committee meeting to review the Biologics License Application for teplizumab. Among the notable losers was AutoZone (AZO), which declined almost 2% after reporting its fiscal third quarter results. Also lower was GrafTech (EAF), which fell 4.6% after filing to sell 20M shares of its common stock.Reviewing Tuesday's economic data: New home sales declined 5.9% month-over-month in April to a seasonally adjusted annual rate of 863,000 (Briefing.com consensus 980,000) from a downwardly revised 917,000 (from 1.021 million) in March. On a yr/yr basis, new home sales were up 48.3%, having lapped a very depressed comparison period due to the pandemic.The key takeaway from the report is that new home sales, which are counted when contracts are signed, are being squeezed by high costs for builders and high prices for buyers. This connection is showing up in the reduced percentage of sales for homes priced under $399,999 and the increased percentage of sales for homes priced over $500,000.The Conference Board's Consumer Confidence Index checked in at 117.2 in May (Briefing.com consensus 118.0) versus a downwardly revised 117.5 (from 121.7) in April.The key takeaway from the report is the recognition that consumers felt less optimistic about the outlook due to reduced expectations for income, business, and labor market conditions -- a view that could potentially give way to reduced inflation fears in the market.The S&P Case-Shiller Home Price Index increased 13.3% yr/yr in March (Briefing.com consensus 12.6%) following a revised 12.0% increase (from +11.9%) in February.The FHFA Housing Price Index increased 1.4% m/m in March following a revised 1.1% increase (+0.9%) in February. Looking ahead, investors will receive the weekly MBA Mortgage Applications Index on Wednesday. Dow Jones Industrial Average +12.1% YTDRussell 2000 +11.7% YTDS&P 500 +11.5% YTDNasdaq Composite +6.0% YTDDisclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .