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Stocks slip a little as investors see continued weak economic data

  • The S&P 500 backed off the 1,850 level for the second straight day, as investors weighed a decline in consumer confidence and better than expected earnings from Home Depot.
  • The market mostly brushed off the Feb. consumer confidence number, which declined from Jan. and fell short of expectations in the latest example of apparent weather-related weakness.
  • Financials, health care and tech lagged from the opening bell and slumped to lows during the final hour of action.
  • Traders say it was a lackluster day in the market with light volume ahead of additional statements this Thursday from Janet Yellen.
  • Treasury prices rose, with the yield on the benchmark 10-year note shedding 4 bps at ~2.70%.
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