US stocks open lower after HP loss

US stocks opened lower Tuesday after Hewlett-Packard reported a quarterly loss due in part to a massive writedown, offsetting fresh data signaling recovery in the housing market.

After a triple-digit gain Monday, the Dow Jones Industrial Average fell 52.60 points (0.41 percent) to 12,743.36 in the first 15 minutes of trade (1445 GMT).

The S&P 500-stock index dropped 4.17 points (0.30 percent) to 1,382.72, while the tech-rich Nasdaq Composite slipped 6.21 (0.21 percent) to 2,909.86.

Charles Schwab & Co. analysts said stocks were lower after Dow member HP announced an $8.8 billion charge related to alleged accounting improprieties at Autonomy Corp, which HP acquired in August 2011 for over $10 billion.

On Monday, stocks scored solid gains on upbeat housing data and hopes that politicians will find a way to avoid the so-called "fiscal cliff" of automatic tax hikes and spending cuts in January.

The jump was underpinned by Apple, the most valuable public company, which took a 7.2 percent bounce to $565.73, following weeks of losses.

The Dow rose 1.65 percent, the S&P 500 added 1.99 percent) and the Nasdaq leaped 2.21 percent.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3830+0.002+0.15%
    USDSGD=X
    1.5068+0.0031+0.20%
    EURSGD=X
    2.1621+0.0125+0.58%
    GBPSGD=X
    89.8102-0.2474-0.27%
    SGDJPY=X
    5.6061-0.0088-0.16%
    SGDHKD=X
    2.8078+0.0059+0.21%
    SGDMYR=X
    9,763.1719-21.7637-0.22%
    SGDIDR=X
    4.4917-0.0048-0.11%
    SGDCNY=X
    1.0200+0.001+0.10%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,090.10-0.60-0.06%
    GCQ15.CMX
    14.600.00-0.03%
    SIZ15.CMX
    45.67+0.14+0.30%
    ^XAU
    2.36-0.01-0.28%
    HGU15.CMX
    46.39+0.26+0.56%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.59+0.08
    ^FVX
    2.21+0.06
    ^TNX
    2.89+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.565-0.035-5.83%
    N21.SI
    0.825-0.075-8.33%
    G13.SI
    2.36+0.01+0.43%
    MC0.SI
    0.310.000.00%
    5WA.SI
    0.193+0.030+18.40%
    AFC.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.193+0.030+18.40%
    AFC.SI
    0.655+0.080+13.91%
    UD3.SI
    0.18+0.02+12.50%
    UV1.SI
    0.118+0.013+12.38%
    B32.SI
    0.335+0.030+9.84%
    R14.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.148-0.046-23.71%
    40N.SI
    0.20-0.03-13.04%
    5NF.SI
    0.12-0.02-13.04%
    D3W.SI
    0.198-0.027-12.00%
    5OY.SI
    0.141-0.019-11.87%
    5UA.SI