S&P 500 Falls After Six-Day Rally as Earnings, Data Disappoint

---

U.S. stocks declined, halting the Standard & Poor��s 500 Index��s longest winning streak since September, after disappointing earnings reports from AT&T Inc. and Amgen Inc. and an unexpected drop in home sales.

The S&P 500 fell 0.2 percent to 1,875.39 at 4 p.m. in New York. The Dow Jones Industrial Average slipped 12.52 points, or 0.1 percent, to 16,501.85. The Nasdaq 100 Index of technology stocks lost 0.9 percent.

The U.S. equity benchmark gauge advanced 3.5 percent during its six-day rally, closing 0.6 percent below a record high, as earnings from Netflix to Citigroup Inc. topped estimates and Federal Reserve Chair Janet Yellen reiterated the bank��s commitment to supporting the economy.

Commerce Department data today showed that sales of new homes unexpectedly plunged in March to the lowest level in eight months, reflecting a broad-based retreat that signals the industry is facing bigger challenges than just bad weather. Sales dropped 14.5 percent to a 384,000 annualized pace. Economists predicted a 450,000 annualized pace.

Copy Source : Bloomberg