The stock of the United States loses its gains on Tuesday, because investors were looking to a European leaders' meeting the following day, with a worry that Europe will override cheer, which came at the same time with an optimistic housing data.
Andrew Fitzpatrick, an investment director at Hinsdale Associates, has stated that they are still dealing with the descending pressure and, in his opinion, a big part of it refers to Europe. Fitzpatrick thinks that outcome of the Wednesday's EU leaders' meeting should not be dramatic or complex, as the market as whole is waiting for just some kind of progress.