S&P 500 down on home sales

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Source: Dukascopy Bank
S&P 500 index extended loss on Wednesday as data showed existing home sales tumbled 0.9% in February. US index slipped 0.19% or 2.63% points and closed at 1,402.89. Baker Hughes lost 5.8% on news its North American division 1st-quarter profit margin will drop due to higher costs, lower prices and supply shortages as US operators change rig locations. Firms are drilling for crude because its 8 times more expensive than gas. Netflix gained 4.4% on news it will provide mystery series Hemlock Grove exclusively to its members in early 2013.

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