US midday: Wall Street continues to trade mixed

Sharecast

LONDON (ShareCast) - - Home builder sentiment drops unexpectedly
- Empire State manufacturing survey slips in February
- Crude futures advance

Dow Jones Industrials: -0.01%
Nasdaq Composite: 0.68%
S&P 500: 0.18%

US equity benchmarks continued to be little changed come the afternoon as trading resumed and the New York Fed's Empire State manufacturing sector survey revealed that activity in the region fell in February by more than had been expected.

A later report showed a large drop in home builder sentiment during the same month, although at least part of the decline was attributable to the impact of adverse weather.

Wall Street was thus seeing little follow-through buying after last Friday's rise. New York (Frankfurt: HX6.F - news) markets were returning to trading today after taking a break yesterday for Presidents' Day.

"The first day of the week for the US is likely to be a quiet one, with very little economic data being released and little direction coming from Europe," according to Craig Erlam, analyst at Alpari UK, adding that the only notable release expected on Tuesday was the Empire State manufacturing survey.

The Empire State manufacturing index, which gauges manufacturing activity in New York, northern New Jersey and southern Connecticut, plunged to 4.48 from 12.5 in January. Economists had predicted a smaller drop to 9.

The National Association of Home Builders' housing market index, which asks survey respondents to rate market conditions for new home sales, dropped to a reading of 46 points (consensus: 56).

According to the NAHB said softness was driven in part by "unusually severe weather conditions across much of the nation."

Later on, after the market closes, the Fed will hold an open board meeting to finalise new regulatory rules for banks.

The biggest foreign banks in the US, including Credit Suisse (NYSE: CS - news) , UBS (Xetra: UB0BL6 - news) and Deutsche Bank (Xetra: DBK.DE - news) , were bracing for regulation demanding stricter capital requirements.

Forest Laboratories (NYSE: FRX - news) gained after Actavis (NYSE: ACT - news) agreed to buy the maker of the Alzheimer's drug Namenda.

Netflix (NasdaqGS: NFLX - news) edged higher following reported the company suspended a plan to secure a place for its video-subscription service on Time Warner Cable (NYSE: TWC - news) set-top boxes.

Crude futures advance, yields off

Front month West Texas crude futures rose by 1.49% to the $101.84/barrel mark on the NYMEX.

Yields on 10-year US Treasuries retreated by five basis points to the 2.70% mark.

S&P 500 - Risers
Forest Laboratories Inc. (FRX) $92.20 +29.15%
Actavis plc (ACT (KOSDAQ: 131400.KQ - news) ) $205.02 +6.85%
Mylan Inc (NasdaqGS: MYL - news) . (MYL) $48.74 +5.73%
First Solar Inc (Xetra: F3A.DE - news) . (FSLR) $55.77 +4.89%
J. M. Smucker Co. (SJM) $96.03 +4.60%
Newfield Exploration Co (NYSE: NFX - news) (NFX) $26.01 +3.34%
Perrigo Company plc (PRGO) $153.75 +2.99%
Genuine Parts Co (Frankfurt: GPT.F - news) . (GPC) $88.35 +2.79%
Nabors Industries Ltd (NYSE: NBR - news) . (NBR) $18.58 +2.71%
Helmerich & Payne Inc (NYSE: HP - news) . (HP) $93.03 +2.69%

S&P 500 - Fallers
Kansas City Southern (NYSE: KSU - news) (KSU) $90.80 -5.38%
Waste Management Inc (NYSE: WM - news) . (WM) $41.63 -4.67%
Coca-Cola Co. (KO) $37.47 -3.76%
CF Industries Holdings Inc. (CF) $223.70 -3.43%
Republic Services Inc (NYSE: RSG - news) . (RSG) $33.43 -2.82%
Norfolk Southern Corp. (NSC) $90.53 -2.49%
Mattel Inc (NasdaqGS: MAT - news) . (MAT) $35.85 -2.18%
Amazon.Com Inc. (AMZN) $349.63 -2.16%
International Game Technology (NYSE: IGT - news) (IGT) $14.68 -1.97%
D. R. Horton Inc. (DHI) $23.16 -1.97%

Dow Jones I.A - Risers
Goldman Sachs Group Inc. (GS (KSE: 078935.KS - news) ) $165.27 +0.95%
Walt Disney Co. (DIS) $79.91 +0.86%
JP Morgan Chase (Other OTC: JFTTL - news) & Co. (JPM) $58.54 +0.67%
Unitedhealth Group Inc. (UNH) $74.01 +0.67%
E.I. du Pont de Nemours and Co. (DD) $64.89 +0.60%
Merck & Co. Inc (Xetra: 6MK.DE - news) . (MRK) $55.72 +0.50%
McDonald's Corp. (MCD) $96.22 +0.46%
Travelers Company Inc. (TRV) $84.25 +0.27%
Nike Inc (NYSE: NKE - news) . (NKE) $75.25 +0.24%
Boeing Co (NYSE: BA - news) . (BA) $130.34 +0.14%

Dow Jones I.A - Fallers
Coca-Cola Co. (KO) $37.47 -3.76%
Procter & Gamble Co. (PG) $78.14 -1.59%
Verizon Communications Inc (LSE: VZC.L - news) . (VZ) $45.78 -1.57%
AT&T Inc (NYSE: T - news) . (T) $32.79 -1.07%
Home Depot Inc. (HD) $77.11 -1.05%
Wal-Mart Stores Inc. (WMT) $75.08 -0.94%
Johnson & Johnson (NYSE: JNJ - news) (JNJ) $92.16 -0.64%
Microsoft Corp. (MSFT) $37.47 -0.40%
American Express Co. (AXP) $88.68 -0.36%
Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $22.48 -0.35%

Nasdaq 100 - Risers
Mylan Inc. (MYL) $48.74 +5.73%
Liberty Global (NasdaqGS: LBTYA - news) plc Series A (LBTYA) $86.50 +3.47%
Illumina Inc (NasdaqGS: ILMN - news) . (ILMN) $169.73 +3.29%
Green Mountain Coffee Roasters Inc (Xetra: 887856 - news) . (GMCR) $119.51 +3.00%
Tesla Motors Inc (Xetra: A1CX3T - news) (TSLA) $204.04 +2.93%
Charter Communications Inc (NasdaqGS: CHTR - news) . (CHTR) $132.38 +2.34%
Regeneron Pharmaceuticals Inc (NasdaqGS: REGN - news) . (REGN) $331.11 +2.20%
Gilead Sciences Inc (NasdaqGS: GILD - news) . (GILD) $82.82 +1.99%
PACCAR Inc (NasdaqGS: PCAR - news) . (PCAR) $62.73 +1.93%
Micron Technology Inc (NasdaqGS: MU - news) . (MU) $25.53 +1.79%

Nasdaq 100 - Fallers
Mattel Inc. (MAT) $35.85 -2.18%
Amazon.Com Inc. (AMZN) $349.63 -2.16%
Symantec Corp. (SYMC) $20.94 -1.92%
Dentsply International Inc (NasdaqGS: XRAY - news) . (XRAY) $45.45 -1.71%
Ross Stores Inc (NasdaqGS: ROST - news) . (ROST) $68.47 -1.37%
Whole Foods Market Inc (NasdaqGS: WFM - news) . (WFM) $51.67 -1.11%
Maxim Integrated Products Inc (NasdaqGS: MXIM - news) . (MXIM) $31.15 -1.10%
Broadcom Corp (NasdaqGS: BRCM - news) . (BRCM) $30.96 -1.09%
Starbucks Corp. (SBUX) $74.33 -0.93%
Check Point Software Technologies Ltd (NasdaqGS: CHKP - news) . (CHKP) $66.41 -0.81%

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