US consumer confidence survey weighs on stocks

LONDON (AP) — An unexpected decline in a closely watched gauge of U.S. consumer confidence and further depressing housing data weighed on stocks Tuesday though holiday-thinned trading kept the selling in check.

The Conference Board reported that its main consumer confidence index fell to 52.5 in December from an upwardly revised 54.3 the previous month amid ongoing concerns over jobs. The decline was unexpected - the consensus in the markets was for the index to push up to 56.

Further disappointment came with the news that house prices in 20 U.S. cities all fell in October, according to a survey from S&P/Case Shiller.

Though stock markets in both Europe and the U.S. pushed lower following the downbeat economic data, the response was fairly muted given light trading volumes - New York trading was additionally impacted by the heavy snowstorm over the past couple of days.