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
    1.3785+0.0003+0.02%
    USDSGD=X
    1.5376-0.0001-0.01%
    EURSGD=X
    2.02610.000.00%
    GBPSGD=X
    79.9343-0.0279-0.03%
    SGDJPY=X
    5.6335-0.0015-0.03%
    SGDHKD=X
    2.9687-0.0006-0.02%
    SGDMYR=X
    9,878.4873-2.1504-0.02%
    SGDIDR=X
    4.7565-0.0017-0.04%
    SGDCNY=X
    0.9909-0.0007-0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,224.10+0.30+0.02%
    GCM16.CMX
    16.34+0.08+0.49%
    SIN16.CMX
    82.23+2.07+2.59%
    ^XAU
    2.100.00+0.02%
    HGN16.CMX
    49.63+0.07+0.14%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.40+0.01
    ^FVX
    1.87+0.01
    ^TNX
    2.67+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.3050.0000.00%
    N21.SI
    0.114+0.006+5.56%
    40E.SI
    0.715+0.005+0.70%
    G13.SI
    1.785+0.015+0.85%
    MC0.SI
    3.82+0.01+0.26%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.40+0.04+11.11%
    567.SI
    0.65+0.05+9.24%
    5TG.SI
    0.475+0.040+9.20%
    A26.SI
    0.39+0.03+8.33%
    42E.SI
    0.123+0.009+7.89%
    510.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.86-0.18-17.31%
    AWM.SI
    0.139-0.026-15.76%
    5WD.SI
    0.25-0.04-15.25%
    I06.SI
    0.29-0.03-9.38%
    BLU.SI
    0.80-0.07-8.05%
    BCX.SI