Stocks Closed Marginally Lower

U.S. stocks ended marginally lower on Tuesday, after a mixed bag of economic data highlighted by a surprise dip in consumer confidence. The Dow Jones Industrial Average slipped 2.96 points, or 0.02%, to 17,814.94. The S&P 500 was down 2.38 points, or 0.12%, to 2,067.03. The Nasdaq Composite was up 3.36 points, or 0.07%, to 4,758.25.

One month after hitting its highest level in seven years, consumer confidence unexpectedly retreated in November, a sign that consumers are less optimistic about the U.S. economy. An overall gauge of consumer confidence fell to 88.7 in November from 94.1 in October, the New York-based research group said.

Oil futures slumped to their lowest close in more than four years Tuesday, as traders grew more doubtful the Organization of the Petroleum Exporting Countries will deliver meaningful` production cuts when cartel officials meet later this week. Nymex WTI crude for January delivery CLF5, -2.49% dropped $1.69, or 2.2%, to close at $74.09 a barrel, the lowest finish for a most-active futures contract since September 2010.

Hewlett-Packard Co. said its profit fell 6% for the October quarter and the computer maker recorded another period of lower revenue as it continues to show the frailties that prompted its plan to split in two. Overall for the fourth quarter, H-P reported a profit of $1.33 billion, or 70 cents a share, down from $1.41 billion, or 73 cents a share, a year earlier. Revenue for its fourth quarter ended Oct. 31 fell 2% to $28.41 billion.