Stocks Slip on Tuesday

Footwear stocks dipped slightly Tuesday despite benchmark indices rising on new signs that the U.S. housing rebound is gaining ground.

The latest S&P Case-Shiller index of property values, released before the market opened, increased 5.5 percent from November 2011, the biggest year-over-year gain since August 2006.

But at the same time, the Conference Board’s Consumer Confidence index decreased to 58.6, the weakest level since November 2011, from a revised 66.7 in December.

As a result, the S&P 500 and Dow Jones Industrial Average both closed the day 0.5 percent higher, at 1,507.84 points, and 13,954.42 points, respectively.

However, a basket of 45 industry stocks tracked by Footwear News slipped a median of 0.2 percent.

The top gainer was J.C. Penney Co., which surged 9.3 percent to $21.01 a share after the department store said it will resume holiday-related promotions in another adjustment to embattled CEO Ron Johnson’s pricing strategy.

Macy’s Inc. was second, gaining 1.4 percent to $39.95 a share.

The biggest loser was Amazon Inc., which slumped 5.7 percent to $260.35. But the Zappos.com parent’s stock rebounded nearly 7 percent after hours, when it announced its fourth-quarter operating income jumped 56 percent to $405 million. Revenue also rose 22 percent to $21.27 billion as the firm grabbed a big share of online spending over the holiday period.

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