U.S. Stocks Retreat on Housing Data, Best Buy Profit Decline; Centex Falls

(Bloomberg) -- U.S. stocks posted their second
straight drop after a decline in Best Buy Co.'s profit and a
slide in housing starts added to concern that consumer spending
will falter in the face of higher interest rates.

Best Buy, the biggest consumer electronics chain, plunged
the most in a year after reporting earnings that trailed analyst
estimates. NVR Inc., Centex Corp. and Hovnanian Enterprise Inc.
led a gauge of homebuilders to its lowest level in 11 months.


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