04:48 PM EDT, 03/25/2025 (MT Newswires) -- US benchmark equity indexes closed mostly higher Tuesday, largely shrugging off a report that showed continued deterioration in consumer confidence.

The Nasdaq Composite rose 0.5% to 18,271.9, while the S&P 500 gained 0.2% at 5,776.7. The Dow Jones Industrial Average was essentially flat at 42,587.5. Utilities saw the steepest decline among sectors, while communication services led the gainers.

In economic news, US consumer confidence waned for a fourth consecutive month in March, and by more than economists projected, as expectations plunged to a 12-year low amid economic uncertainty, the Conference Board reported.

"Consumers' expectations were especially gloomy, with pessimism about future business conditions deepening and confidence about future employment prospects falling to a 12-year low," said Stephanie Guichard, senior economist of global indicators at the Conference Board.

Other indicators suggest that the economic situation is not as dire as the confidence data indicate, "which may lead one to be inclined to dismiss the negative implications for the outlook," Jefferies said in a note. "However, it is important to keep in mind that perception is reality when it comes to spending and investment decisions."

New-home sales in the US increased less than expected in February even as prices dropped, government data showed.

S&P Global ( SPGI ) division S&P Dow Jones Indices said that home price growth picked up in January, though the annual measure continued to trail the appreciation seen in the first half of 2024. Separately, the Federal Housing Finance Agency said home prices increased 0.2% on a seasonally adjusted basis in January, compared with December's upwardly revised growth of 0.5%.

US Treasury yields moved down Tuesday, with the two-year rate dropping 2 basis points to 4.02% and the 10-year rate losing 1.6 basis points to 4.32%.

Federal Reserve Governor Adriana Kugler said policymakers hold the benchmark lending rate steady "for some time" as they monitor incoming data and the cumulative effects of new government policies.

On Monday, US President Donald Trump said he may give "a lot of countries" breaks on planned reciprocal tariffs, which are expected to go into effect April 2, media outlets reported. The White House will soon announce duties targeting automobiles and pharmaceuticals, Trump reportedly said.

West Texas Intermediate crude oil was flat at $69.12 a barrel Tuesday.

In company news, Merck ( MRK ) secured exclusive global rights to develop and sell China-based Jiangsu Hengrui Pharmaceuticals' heart disease drug in a deal worth up to about $2 billion. Merck ( MRK ) shares decreased 4.8%, the worst performer on the Dow and the second worst on the S&P 500.

KB Home ( KBH ) shares declined 5.2%. The homebuilder late Monday lowered its full-year housing revenue outlook as affordability challenges and macro uncertainties weigh on consumers' home buying sentiment.

CrowdStrike ( CRWD ) shares rose 3.3% Tuesday, among the top gainers on the S&P 500, as BTIG upgraded the stock to buy from neutral.

Gold increased 0.4% to $3,054.90 per troy ounce, while silver jumped 2.3% to $34.21 per ounce.