Most U.S. Stocks Fall Amid Economic Reports
(Bloomberg) Most U.S. stocks fell, a day after the Standard & Poor’s 500 Index failed to hold at an almost four-year high, as sales of previously owned houses missed estimates and amid disappointing data from Europe and China.
KB Home (KBH) and Toll Brothers Inc. (TOL) slumped at least 2.8. percent pacing losses in homebuilders. Dell Inc., the third- largest maker of personal computers, sank 5.9 percent after its sales forecast missed estimates. MGM Resorts International slid 1.3 percent after reporting a wider-than-estimated loss. Garmin Ltd. (GRMN) surged 9.6 percent after the maker of mobile navigation systems reported earnings that exceeded projections.
Five shares declined for every four that rose on U.S. exchanges at 10:30 a.m. New York time. The S&P 500 slid 0.1 percent to 1,360.32. The Dow Jones Industrial Average fell 8.86 points, or 0.1 percent, to 12,956.83 after the 30-stock gauge rose above 13,000 (INDU) yesterday for the first time since 2008.
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