Stocks cut losses to trade near breakeven on Tuesday following data that showed a stronger-than-expected reading of consumer confidence for April.

The Dow Jones industrial average <.DJI> was down 2.31 points, or 0.03 percent, at 8,022.69. The Standard & Poor's 500 Index <.SPX> slipped 0.52 points, or 0.06 percent, at 856.99. The Nasdaq Composite Index <.IXIC> fell 1.05 points, or 0.06 percent, at 1,678.36.

(Reporting by Ellis Mnyandu; editing by Jeffrey Benkoe)