Stocks Ended Marginally Lower

U.S. stocks ended marginally lower on Tuesday as investors found little comfort in a factory orders report. The Dow Jones Industrial Average shed 21.29 points, or 0.13%, to 16,722.34. The S&P 500 was down 0.73 point, or 0.04%, to 1,924.24. The Nasdaq Composite fell 3.12 points, or 0.07%, at 4,234.08.

Orders for goods produced in U.S. factories rose 0.7% in April, the Commerce Department said Tuesday. Factory orders climbed by a revised 1.5% in March, compared with a prior estimate of 0.9%. Orders for durable goods — products meant to last at least three years — rose 0.6% in April. Orders for nondurable goods increased 0.7%.

Automakers on Tuesday reported higher-than-expected U.S. new car sales of 1.6 million in May, with rising consumer demand underpinning a broader recovery in the U.S. economy. Industry sales rose 11.3 percent to 1,606,264 vehicles, according to a compilation of manufacturers’ results by Reuters.

Activist investor Carl Icahn acquired about $51 million in the common shares of mortgage financiers Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) from mutual fund manager Fairholme Funds Inc in March, a court filing showed on Tuesday.

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