Dow edges to record high in choppy session

Traders work on the floor of the New York Stock Exchange in New York City on Nov 21, 2014. -- PHOTO: AFP
Traders work on the floor of the New York Stock Exchange in New York City on Nov 21, 2014. -- PHOTO: AFP

NEW YORK (AFP) - The Dow on Tuesday edged to its fourth straight record close following a choppy session and a deluge of mixed US economic data.

At the closing bell, the Dow Jones Industrial Average stood at 17,842.87, up 6.97 points (0.04 per cent).

The broad-based S&P 500 retreated slightly from Monday's record, dropping 1.82 (0.09 per cent) to 2,067.59, while the tech-rich Nasdaq Composite Index added 3.36 (0.07 per cent) at 4,758.25.

The Commerce Department unexpectedly raised its estimate for third-quarter US economic growth to 3.9 per cent from 3.5 per cent.

Analysts had projected a downward revision to the initial estimate.

But the Conference Board said its consumer confidence index fell to 88.7 in November from 94.1 in October.

US home prices rose 4.9 per cent in September from a year ago as price gains continued to slow.

"Investors are basically saying two steps forward, one step backward and the trajectory is still higher," said Sam Stovall, chief investment strategist at S&P Capital IQ.