Stocks fluctuate after Consumer Confidence Report: Markets wrap

(Bloomberg) — Stocks fluctuated at the start of a holiday-shortened week, with traders wading through a raft of economic reports and remarks from Federal Reserve speakers for clues on the outlook for policy.

Equities struggled to gain much traction after a rally that sent the market toward its best month this year. The “T+1” rule is coming into effect — making US equities settle in one day rather than two. Treasuries were mixed ahead of sales of two and five year notes. Bitcoin fell as traders monitored transfers by wallets belonging to the failed Mt. Gox exchange.

Before Friday’s release of the Fed’s favorite price gauge, Wall Street will have a chance to weigh multiple economic readings. The Conference Board’s gauge of sentiment beat all estimates, rising to 102 from an upwardly revised 97.5 in April, according to data out Tuesday. Home-price growth in key cities accelerated, squeezing buyers.

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