S&P 500 drops on housing data

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Source: Dukascopy Bank
US S&P 500 Index fell on Thursday, weighted down by an unexpected drop in new home sales. US benchmark declined 0.57% or 7.62 points and closed at 1,318.43 with nine out of ten industries posting losses as home sales decelerated 2.2% in December. Main losers were energy and telecommunication shares with E Trade Financial dropping 14.6% and Range resources giving up 6.6%. On upside Netflix rocketed 22% after reporting an unpredicted increase in the number of customers and in the 4th quarter earnings. Time Warner Cable surged 7.8% on better that expected earnings report. 

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