LONDON (ShareCast) - - Home builder sentiment drops unexpectedly
- Empire State manufacturing survey slips in February
- Crude futures advance
Dow Jones Industrials: -0.07%
Nasdaq Composite: 0.56%
S&P 500: 0.07%
US stocks were little changed as trading resumed and the New York Fed's Empire State manufacturing sector survey revealed that activity in the region fell by more than had been expected.
A later report showed a large drop in home builder sentiment in February, although the lion's shares of the decline seemed attributable to the impact of adverse weather.
Wall Street was thus failing to see any 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 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
Front month West Texas crude futures rose by 0.99% to the $101.34/barrel mark on the NYMEX.
Yields on 10-year US Treasuries retreated by 3 basis points to the 2.72% mark.
S&P 500 - Risers
Forest Laboratories Inc. (FRX) $91.95 +28.80%
Actavis plc (ACT (KOSDAQ: 131400.KQ - news) ) $203.75 +6.19%
Mylan Inc (NasdaqGS: MYL - news) . (MYL) $48.22 +4.59%
Genuine Parts Co (Frankfurt: GPT.F - news) . (GPC) $89.43 +4.05%
Humana Inc (NYSE: HUM - news) . (HUM) $103.15 +2.91%
Newfield Exploration Co (NYSE: NFX - news) (NFX) $25.87 +2.78%
J. M. Smucker Co. (SJM) $94.34 +2.76%
First Solar Inc (Xetra: F3A.DE - news) . (FSLR) $54.37 +2.26%
Pioneer Natural Resources Co (NYSE: PXD - news) . (PXD) $189.40 +2.21%
Helmerich & Payne Inc (NYSE: HP - news) . (HP) $92.43 +2.03%
S&P 500 - Fallers
Kansas City Southern (NYSE: KSU - news) (KSU) $88.87 -7.39%
Waste Management Inc (NYSE: WM - news) . (WM) $41.71 -4.49%
Coca-Cola Co. (KO) $37.36 -4.04%
Dentsply International Inc (NasdaqGS: XRAY - news) . (XRAY) $45.10 -2.47%
Mattel Inc (NasdaqGS: MAT - news) . (MAT) $35.76 -2.44%
Lam Research Corp (Frankfurt: LAR.F - news) . (LRCX) $51.21 -2.42%
Noble Corporation (NYSE: NE - news) plc (NE) $30.45 -2.28%
Transocean Ltd (NYSE: RIG - news) . (RIG) $42.20 -2.17%
Medtronic Inc (NYSE: MDT - news) . (MDT) $55.65 -2.16%
Harley-Davidson Inc. (HOG) $63.60 -2.12%
Dow Jones I.A - Risers
Unitedhealth Group Inc. (UNH) $74.58 +1.44%
Visa Inc (NYSE: V - news) . (V) $227.60 +0.71%
Walt Disney Co. (DIS) $79.60 +0.47%
Merck & Co. Inc (Xetra: 6MK.DE - news) . (MRK) $55.69 +0.44%
Goldman Sachs Group Inc. (GS (KSE: 078935.KS - news) ) $164.35 +0.38%
Chevron Corp. (CVX) $113.82 +0.30%
Travelers Company Inc. (TRV) $84.26 +0.29%
McDonald's Corp. (MCD) $95.91 +0.14%
General Electric Co. (GE) $25.75 +0.04%
Dow Jones I.A - Fallers
Coca-Cola Co. (KO) $37.36 -4.04%
Procter & Gamble Co. (PG) $77.72 -2.12%
Verizon Communications Inc (LSE: VZC.L - news) . (VZ) $45.69 -1.76%
AT&T Inc (NYSE: T - news) . (T) $32.75 -1.21%
Wal-Mart Stores Inc. (WMT) $74.91 -1.16%
Home Depot Inc. (HD) $77.29 -0.82%
American Express Co. (AXP) $88.40 -0.67%
Intel Corp. (INTC) $24.60 -0.63%
United Technologies Corp (NYSE: UTX - news) . (UTX) $113.25 -0.54%
Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $22.44 -0.53%
Nasdaq 100 - Risers
Mylan Inc. (MYL) $48.22 +4.59%
Illumina Inc (NasdaqGS: ILMN - news) . (ILMN) $168.78 +2.71%
Liberty Global (NasdaqGS: LBTYA - news) plc Series A (LBTYA) $85.80 +2.63%
Tesla Motors Inc (Xetra: A1CX3T - news) (TSLA) $202.79 +2.30%
Baidu Inc (Xetra: B1C.DE - news) . (BIDU) $170.80 +1.98%
Gilead Sciences Inc (NasdaqGS: GILD - news) . (GILD) $82.65 +1.77%
Intuit Inc (NasdaqGS: INTU - news) . (INTU (LSE: INTU.L - news) ) $72.74 +1.46%
Green Mountain Coffee Roasters Inc (Xetra: 887856 - news) . (GMCR) $117.58 +1.34%
Micron Technology Inc (NasdaqGS: MU - news) . (MU) $25.38 +1.20%
Twenty-First Century Fox Inc Class A (FOXA) $32.94 +1.09%
Nasdaq 100 - Fallers
Dentsply International Inc. (XRAY) $45.10 -2.47%
Mattel Inc. (MAT) $35.76 -2.44%
Amazon.Com Inc. (AMZN) $350.87 -1.81%
Symantec Corp. (SYMC) $21.00 -1.64%
Garmin Ltd (NasdaqGS: GRMN - news) . (GRMN) $45.40 -1.48%
Vimpelcom Ltd Ads (VIP) $10.07 -1.27%
Netflix Inc. (NFLX) $430.26 -1.21%
Facebook Inc (NasdaqGS: FB - news) . (FB) $66.36 -1.09%
Broadcom Corp (NasdaqGS: BRCM - news) . (BRCM) $30.98 -1.02%
Whole Foods Market Inc (NasdaqGS: WFM - news) . (WFM) $51.74 -0.98%
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