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US bonds tumble as Wal-Mart, appetite bonds weigh

U.S. bonds fell in early afternoon trade on Tuesday, dragged down by Wal-Mart’s (WMT.N) weaker-than-expected formula and a selloff in appetite and element shares on renewed fears about China.

Wal-Mart fell as most as 3.3 percent to a scarcely 2-1/2 year low of $69.55 after a diseased formula and forecast. The batch was a biggest drag on a Dow and a SP.

Chinese bonds plunged again, re-igniting fears that Beijing might be vigilant on a deeper devaluation of a yuan and pulling oil prices and industrial metals, including copper, to nearby six-year lows.

All 10 vital SP sectors were lower. The steepest tumble was a appetite index’s .SPNY 0.63 percent decline, led by Exxon’s (XOM.N) 1.3 percent decline. The index was down for a fourth true session.

The materials index .SPLRCM was down 0.6 percent, with Freeport-McMoRan’s (FCX.N) 3 percent tumble heading a declines. The index formerly fell as most final week when China devalued a yuan.

At 13:09 p.m. EDT (1709 GMT) a Dow Jones industrial normal .DJI was down 39.48 points, or 0.23 percent, during 17,505.7. The SP 500 .SPX was down 6.07 points, or 0.29 percent, during 2,096.37 and a Nasdaq combination .IXIC was down 25.55 points, or 0.5 percent, during 5,066.15.

Dow member Disney (DIS.N) fell 1.8 percent after Wells Fargo cut a rating on a batch and also on a batch of 5 other media companies, including CBS (CBS.N). Disney was a second-biggest drag on a Dow and SP.

The marketplace debility was partially equivalent by clever formula from Home Depot (HD.N) and information that showed U.S. housing starts rose to a nearby eight-year high in July.

Home Depot rose as most as 3.4 percent to a record high of $123.80 and gave a biggest boost to a Dow and a SP 500.

Home alleviation companies and home builders are enjoying a mark in a sun. D.R. Horton (DHI.N), Toll Brothers (TOL.N), Lennar (LEN.N), PulteGroup (PHM.N) and KB Home (KBH.N) all rose between 1 and 3 percent following a data.

“The good information on housing is positively useful given a 4 percent of a U.S. GDP,” pronounced Mark Luschini, arch investment strategist during Janney Montgomery Scott in Philadelphia.

“It’s something we know a Fed looks during relations to not usually a impact on practice and things residual to a housing marketplace though as good as to a resources outcome of homeowners.”

In other sell news, TJX (TJX.N), jumped 6.7 percent to a lifetime high of $76.43 after it reported a better-than-expected arise in quarterly allied store sales.

Declining issues outnumbered advancers on a NYSE by 2,057 to 933. On a Nasdaq, 1,835 issues fell and 858 advanced.

The SP 500 index showed 40 new 52-week highs and 8 new lows, while a Nasdaq available 63 new highs and 66 new lows.

(Reporting by Tanya Agrawal in Bengaluru; Editing by Savio D’Souza)

Article source: http://www.reuters.com/article/2015/08/18/us-markets-stocks-usa-idUSKCN0QN13X20150818