US STOCKS-Wall St dips as housing data disappoints

lunes 28 de julio de 2014 12:53 GYT
 

* Dollar Tree offers to buy Family Dollar; deal valued at $9.2 bln

* June pending home sales unexpectedly fall

* S&P 500 about 1 percent from intraday record

* Dow off 0.2 pct; S&P 500 down 0.2 pct;, Nasdaq off 0.4 pct (Updates to midday)

By Ryan Vlastelica

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

While acquisition activity limited the market's decline and kept the Dow and S&P 500 near record levels, investors found few reasons to buy because the data followed some high-profile disappointments in earnings, including from Amazon.com and Caterpillar last week.

An index of pending home sales unexpectedly fell 1.1 percent in June, according to the National Association of Realtors. The report followed a drop of 8.1 percent in June new home sales, the biggest slump in almost a year. The PHLX housing sector index slid 1.8 percent. Shares of D.R. Horton Inc , the No. 1 U.S. homebuilder, tumbled 2.9 percent to $20.98.

Activity in the U.S. services sector stayed at its highest level 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...