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.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.235+0.005+2.17%
    N21.SI
    0.156+0.005+3.31%
    5IF.SI
    0.415-0.010-2.35%
    E5H.SI
    0.114-0.004-3.39%
    AAJ.SI
    0.173-0.003-1.70%
    40F.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.525+0.075+16.67%
    BLR.SI
    0.385+0.050+14.93%
    5CF.SI
    1.23+0.15+14.42%
    AYN.SI
    0.189+0.020+11.83%
    BRS.SI
    0.196+0.020+11.36%
    5UF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.29-0.19-38.95%
    BCD.SI
    0.12-0.03-21.57%
    UV1.SI
    0.24-0.03-11.11%
    PA3.SI
    0.475-0.045-8.65%
    567.SI
    0.166-0.014-7.78%
    K22.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4211+0.0034+0.24%
    USDSGD=X
    1.5035-0.001-0.07%
    EURSGD=X
    1.7682+0.0018+0.10%
    GBPSGD=X
    79.9570+0.194+0.24%
    SGDJPY=X
    5.4592-0.0122-0.22%
    SGDHKD=X
    3.1389-0.0047-0.15%
    SGDMYR=X
    9,412.3770-37.874-0.40%
    SGDIDR=X
    4.8436-0.0051-0.11%
    SGDCNY=X
    1.08950.000.00%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,234.30-4.80-0.39%
    GCJ17.CMX
    17.97-0.07-0.36%
    SIH17.CMX
    92.56-1.90-2.01%
    ^XAU
    2.74+0.04+1.29%
    HGH17.CMX
    54.02+0.24+0.45%
    CLJ17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.91-0.03
    ^FVX
    2.42-0.03
    ^TNX
    3.03-0.02
    ^TYX