US STOCKS-Wall St falls after housing data disappoints

lunes 28 de julio de 2014 10:48 GYT
 

* Dollar Tree offers to buy Family Dollar for $9.2 bln

* June pending home sales unexpectedly fall

* S&P 500 about 1 percent from intraday record

* Indexes down: Dow 0.4 pct, S&P 0.5 pct, Nasdaq 0.7 pct (Updates to market open, adds economic data)

By Ryan Vlastelica

NEW YORK, July 28 (Reuters) - U.S. stocks fell on Monday as weak data on the housing market and services sector were the latest indications of worsening economic conditions, taking the S&P 500 below a key support level.

While acquisition activity limited the market's decline, keeping indexes near record levels, investors found few reasons to buy as the data followed some high-profile disappointments in corporate earnings, including from Amazon.com and Caterpillar last week.

Pending home sales unexpectedly fell 1.1 percent in June. The report follows a drop of 8.1 percent in June new home sales, the biggest slump in almost a year. The PHLX housing sector index fell 1.6 percent. D.R. Horton Inc fell 1.7 percent to $21.24.

Activity in the U.S. services sector was at its most brisk in 4-1/2 years in July, though readings for new business and employment growth weakened, according to financial data firm Markit's preliminary data.   Continuación...