The Dow Jones Industrial Average (DJINDICES:^DJI) was just up 34 points as of 11:30 a.m. EST. Shares of BlackBerry (NYSE:BB) and Groupon (NASDAQ:GRPN) were surging, while Intel (NASDAQ:INTC) was one of Dow Jones' worst performers.
Consumers aren't feeling confident
One factor that may have weighed on the Dow Jones early on Tuesday was disappointing consumer confidence data. The Conference Board issued a confidence reading for February of 78.1, down from 79.4 in January and less than economists' consensus estimate of 80.
While it's only one data point, less confident consumers bode poorly for the broader economy -- they may be struggling in the labor market and less likely to spend.
Intel announces new chip
Intel Dow 0.13% drop Tuesday morning came after the company announced a new product. The chipmaker unveiled a new Atom processor on Tuesday that it hopes will power many smartphones and tablets.
Intel has been working to gain a foothold in the mobile space, but remains a token player at best. The new chip, Merrifield, is 64-bit and is capable of powering both Android- and Windows-based tablets.
BlackBerry surges after unveiling new products
Troubled Canadian handset maker Blackberry was up almost 10% on Tuesday after unveiling new smartphones and services.
One of the new phones, the Z3, is a touch-screen phone aimed at Indonesia. The services include BES12, a platform that helps customers develop and deploy enterprise applications for smartphones and tablets.
This nearly double-digit rally follows Monday's equally impressive move. Despite plummeting in 2013, BlackBerry shares are up better than 45% so far this year.
Groupon bounces back
Groupon shares, meanwhile, were posting a nearly as impressive move despite a lack of relevant news. Groupon's newly acquired property, ideeli, launched a redesign of its website, but that shouldn't be significant enough to propel shares more than 8%.
Groupon's rally on Tuesday may have simply been a bounce from last week. Groupon shares fell more than 20% after the company reported earnings. While last quarter was largely in line with what analysts had anticipated, Groupon's guidance was particularly poor, as the company forecast a loss when analysts had been largely expecting a profit.