Pursuits
U.S. Stocks Close Little Changed From Records After Housing Data
This article is for subscribers only.
U.S. stocks closed little changed, with the Standard & Poor’s 500 Index slipping from a record, after data showing housing starts surged to a seven-year high bolstered speculation the Federal Reserve may raise interest rates this year.
Wal-Mart Stores Inc. slumped 4.4 percent after quarterly results missed estimates, while Urban Outfitters Inc. tumbled 15 percent after profit and sales were short of analysts’ projections. Energy shares slid with oil prices. Yahoo! Inc. fell 7.6 percent, leading technology shares lower. Take-Two Interactive Software Inc. jumped 18 percent after its results beat forecasts.