U.S. stocks trade flat as upbeat economic data offset flu concerns

Special Report:Global Financial Crisis

NEW YORK, April 28 (Xinhua) -- Wall Street traded
flat on Tuesday, as bigger-than-expected increase in consumer confidence and a
slower drop in home prices offset concerns about the swine flu outbreak and the
banking industry.

The U.S. Conference Board, an economic research
group, said its consumer confidence index rose to 39.2 in April, up from a
revised 26.9 in March. The reading marks the highest level since November and
surpasses the reading of 29.5 economists had expected.

Moreover, the Standard Poor's/Case-Shiller
index showed home prices in 20 major cities tumbled by 18.6 percent in February
from a year ago. It is the first time the index didn't set a record since
January 2007 and was slightly better than January's 19-percent decline.

Airlines stocks still got hammered on Tuesday on
fears that worried travelers would stay home, as the deadly swine flu virus is
rampant in Mexico.

Banking stocks were traded lower after the U.S.
government said Bank of America Corp. and Citigroup Inc. may need more capital.

The Dow Jones industrial average was down 8.05 points, or 0.10 percent, to 8,016.95. The Standard Poor's 500 index dropped 2.35points, or 0.27 percent, to 855.16. The Nasdaq composite index fell 5.60 points, or 0.33 percent, to 1,673.81.