US stocks were little changed today after Wall Street’s biggest gain of the year as disappointing economic reports weighed on investor sentiment.
Data showed US homebuilder confidence suffered its largest one-month drop ever in February, hit by this winter’s relentlessly severe weather and concerns about the costs of labor and building lots.
The Dow Jones industrial average fell 2.99 points or 0.02 percent, to 16,151.4, the S&P 500 gained 1.9 points or 0.1 percent, to 1,840.53 and the Nasdaq Composite added 20.768 points or 0.49 percent, to 4,264.793.
Meanwhile, Europe’s top shares fell, led down by construction firms, with a key index set for its biggest fall since the beginning of the month following a two-week rally.
The pan-European FTSEurofirst 300 was down 0.2 percent at 1,333.94 at 1215 GMT, just off its highest level in three weeks, and down for only the second time in 10 sessions.
Earlier, Japan’s Nikkei share average soared to a 2-1/2-week high, led by the banking sector after the Bank Of Japan said it would extend loan facilities by a year at its policy meeting. As widely expected, the BOJ kept monetary policy steady and maintained its upbeat assessment on the economy. It also decided to extend three special loan facilities by a year from their scheduled expiry at the end of March.
The Nikkei ended 3.1 percent higher at 14,843.24, the highest close since Jan. 31. The Topix gained 2.7 percent to 1,224.00.
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