MARKET SNAPSHOT: U.S. Stocks Struggle To Rally In Choppy Trade

By Anora Mahmudova and Sara Sjolin, MarketWatch 3Q GDP revised upwards

NEW YORK (MarketWatch) -- Trading action on Wall Street was mostly subdued on Tuesday, as investors reacted to a series of economic data, highlighted by a surprise dip in consumer confidence index.

Stock prices opened higher, helped by an upward revision to the third-quarter GDP data, but gains soon faded and indexes came under pressure following a weaker-than-expected report on consumer confidence. Trading action is relatively placid, with only a few hours left in trading ahead Tuesday.

The S&P 500 (SPX) was flat after earlier setting a new intraday high. The Dow Jones Industrial Average (DJI) moved slightly higher.

The Nasdaq Composite (RIXF) and Russell 2000 (RUT) edged higher.

Economic data: The revised GDP report showed that the economy expanded even faster than previously reported; however, analysts warned that the growth rate is likely unsustainable.

Weighing on sentiment was a surprise dip in consumer confidence index in November, as consumers were less optimistic about both current and upcoming conditions.

U.S. home prices were just about unchanged in September, as annual growth cooled to the slowest year-over-year pace in two years, moving the market closer to sustainable gains, according to data released Tuesday.

Stocks to watch: Tiffany & Co. (TIF) shares jumped after the luxury jeweler said sales rose in the most recent period as its biggest market, the Americas, posted robust growth, although the results fell below analysts' expectations as the company's Japan and Asia-Pacific markets delivered weaker performances.

Shares of TJX Companies (TJX) rose after its rating was lifted to overweight from neutral by J.P.Morgan.

Netflix, Inc. (NFLX) shares dropped after analysts at Stifel Nicolaus cut the rating of the stock to hold from buy.

Hormel Foods Corp (HRL) shares fell, after quarterly profit fell a penny shy of expectations, even though sales topped estimates. The processed foods company said sales in its key refrigerated foods and Jennie-O Turkey Store segments helped offset a slowdown in its specialty and grocery products segment in the fourth quarter.

Other markets: European stock markets climbed after GDP data from Germany confirmed Europe's largest economy dodged falling into a technical recession in the third quarter. Asia stocks closed mixed.

Oil futures (CLF5) advanced and gold prices (GCZ4) slipped after the GDP data. The dollar (DXY)(USDJPY) moved slightly lower against the yen.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires