Asian Stocks Swing Between Gains, Losses on U.S. Earnings, Data

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Asian stocks swung between gains and losses as investors weighed better-than-estimated earnings from Apple Inc. and Facebook Inc. and an unexpected drop in home sales in the world��s largest economy.

The MSCI Asia Pacific Index fell less than 0.1 percent 138.83 as of 9:25 a.m. in Tokyo, after rising less than 0.1 percent.

Japan Topix index lost 0.1 percent and Australia��s S&P/ASX 200 Index added 0.2 percent. Markets in China and Hong Kong are yet to open.

South Korea Kospi index gained 0.2 percent, with Samsung Electronics Co., a supplier of chips to Apple, rising 1.3 percent.

The nation economy expanded at a faster pace than forecast, showing momentum that could boost inflation pressures and build a case for a interest-rate increase.

Gross domestic product grew 0.9 percent in January-March period from the previous quarter, the Bank of Korea said today in a statement in Seoul, above the median 0.8 percent estimate of 13 economists surveyed by Bloomberg News. From a year earlier, GDP increased 3.9 percent.

Source : Bloomberg

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

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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

U.S. Stocks Fluctuate After Rally Amid Earnings, Housing Data

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U.S. stocks fluctuated, after the Standard & Poor 500 Index completed its longest winning streak since September, as investors weighed earnings from AT&T Inc. to Boeing Co. and a home-sales gauge unexpectedly fell.

AT&T dropped 3 percent as more customers opted to pay full price for smartphones in exchange for lower bill in the future. Amgen Inc. plunged 5.2 percent after sales for its best-selling arthritis drug missed analysts�� estimates. Netflix Inc. lost 5.3 percent after Amazon.com Inc. reached a deal to stream old episodes of HBO series. Boeing added 1.9 percent after a boost in jetliner deliveries helped profit top forecasts.

The S&P 500 fell 0.1 percent to 1,877.12 at 12:32 p.m. in New York. The Dow Jones Industrial Average slipped 17.37 points, or 0.1 percent, to 16,497. Trading in S&P 500 stocks was 3.8 percent below the 30-day average at this time of day.

The U.S. equity benchmark gauge advanced 3.5 percent in 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.

Copy Source: Bloomberg

European Stocks Decline as U.S. Housing Report Misses Estimates

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European stocks dropped, snapping their biggest three-day rally since June, as sales of new houses in the U.S. unexpectedly plunged in March to an eight-month low and investors weighed manufacturing data from China to America.

Scania AB declined the most since October 2011 after a shareholder rejected Volkswagen AG��s offer for the remaining shares in the truckmaker. Royal Vopak NV plunged to its lowest price since November 2011 after saying profit may fall 5 percent to 10 percent this year. Associated British Foods Plc advanced the most in 14 years as its Primark chain posted a 26 percent increase in first-half profit and planned a U.S. entry.

The Stoxx Europe 600 Index fell 0.6 percent to 335.05 at the close of trading. The benchmark gauge had gained 3.2 percent in the past three days amid increased mergers-and-acquisitions activity and better-than-estimated U.S. data.

Sales of new American houses dropped 14.5 percent to a 384,000 annualized pace, lower than forecasts of all economists surveyed by Bloomberg and the weakest since July, Commerce Department data showed. The median forecast of 74 economists surveyed by Bloomberg News called for the pace to accelerate to 450,000.

Source : Bloomberg

U.S. Stocks Little Changed After Rally

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U.S. stocks were little changed, after the Standard & Poor��s 500 Index completed its longest winning streak since September, as investors weighed earnings from AT&T Inc. to Boeing Co.

The S&P 500 fell 0.1 percent to 1,878.40 at 9:31 a.m. in New York. The Dow Jones Industrial Average slipped 13.10 points, or 0.1 percent, to 16,501.27.

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

A report at 9:45 a.m. in New York may show the Markit Economics preliminary reading of a U.S. manufacturing index rose to 56 this month from 55.5, according to the median economist estimate compiled by Bloomberg. Readings greater than 50 signal expansion.

Emerging-market equities dropped and European shares snapped the biggest three-day rally since June after the Markit gauge for China signaled continuing weakness in the world��s second-largest economy.

Commerce Department data at 10 a.m. will probably show that sales of new homes increased to a 450,000 annualized pace in March, economists predicted.

Source : Bloomberg