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Published: Monday 26 August, 2013

designer women clothing designer women clothing ?euro dives on Greece turmoil



stock indexes wavered between modest gains and losses Tuesday as traders weighed encouraging economic reports against European headlines that sent overseas markets reeling. builders hit a fiveyear high, giving home builder stocks a strong boost. Home builders rallied, including KB Home KBH, Lennar Corp. LEN and Hovnanian Enterprises HOV.



MORE: Todays most active stocksIn early trading, stocks were helped by a report of growth in retail sales for April and a survey by the New York Fed that found manufacturing activity in the New York region rebounded this month far more strongly than economists had expected.



But Greek politicians declared an impasse on forming a government there, ensuring another round of destabilizing elections. Newlyelected political leaders there disagree about whether to accept more international bailouts and contin designer women clothing ue with painful spending cuts. The euro fell to a fourmonth low.



Stock trend



Dow Jones industrial average, five trading days



The Dow closed down 63 at 12,632. Losses by most of its components were offset by gains for JPMorgan Chase JPM and Bank of America, BAC shaking off recent losses related to the surprise $2 billion trading loss that JPMorgan announced last week.



The Standard Poors 500 index fell 8 points to 1,331. Volume was heavy at 4.05 billion shares.



Stocks are having their worst month in the past eight. For the month, the Dow is down 518 points about 4% after hitting a fouryear high on May 1. The average is on track to post its first monthly loss since September, when it fell 6%.



The euro fell as low as $1.2752, a fourmonth low against the dollar, after Greek socialist leader Evangelos Venizelos declared that attempts to form a governing coalition there had failed and new elections will be held next month.



If voters elect parties opposed to the terms of the countrys financial rescue, Greece could be expelled from the euro and global markets would likely shudder.



Stock indexes in France, Britain and Germany gave up earlier gains after Venizelos remarks and closed sharply lower.



Stocks in Europe had been buoyed by the surprise news that eurozone economy did not fall into recession in the first quarter. Output was flat compared with the previous threemonth period, better than the 0.2% drop analysts had been expecting.



In the current context, zero growth in the eurozone in the first quarter is relatively good news, said Marie Diron, senior economic adviser at Ernst Young. It suggests that the economy is not falling off a cliff under the burden of fiscal austerity.



Asian markets fell earlier on Tuesday, with Japans Nikkei 225 down 0.8% to 8,900.74, its lowest close since Feb. 3. South Koreas Kospi lost 0.8% to 1,898.96. Australias S 200 lost 0 designer women clothing .7% to 4,266.30.



Mainland Chinese shares extended their losses, with the Shanghai Composite Index hitting another threemonth low, losing 0.2% to 2,374.90. But Hong Kongs Hang Seng, which some analysts said was oversold after more than a week of losses, rebounded 0.8% to 19,894.31.



Benchmark oil for June delivery was up 2 cents to $94.80 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.35 to settle at $94.78 in New Yor designer women clothing k on Friday.



Among other stocks making big moves:



Home Depot HD slumped 2%, the most of the 30 companies in the Dow, after the worlds biggest homeimprovement company forecast revenue that was below what Wall Street analysts were expecting.



Avon Products Inc. AVP fell 10%, the most in the S 500 index, after Coty Inc. canceled its unsolicited, $10.7 billion bid for the cosmetics retailer. designer women clothing

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