Wall Street falls as economy confuses

Stocks on Wall Street fell as the economy sent out mixed signals.

Home prices rose during June across major metropolitan areas for the first time since 2010.

A reading on consumer confidence in August fell short of expectations, dropping to the lowest reading since 2011, while a report on manufacturers in the Central Atlantic region saw a contraction in economic activity this month, though at a slower pace than in July.

After flatlining for most of the session, the Dow Jones Industrial Average was down 21.68 points, or 0.2%, to 13,102.99 at the close (8am NZ time). It was the sixth fall in seven sessions, a stretch during which it has lost 170 points or 1.3%.

The S&P 500 index was down 0.1% to 1411 and the Nasdaq Composite Index gained 0.1% to 3077.14.

Other markets: Europe down, Asia mixed
European stock markets suffered broad-based losses after Spain's Catalonia region said it would ask for a €5 billion bailout.

The Spanish IBEX 35 index fell 0.9% to 7,333.50. The Stoxx Europe 600 index lost 0.7% to close at 267.32, more than wiping out the 0.5% gain on Monday.

The UK’s FTSE 100 index closed marginally lower at 5775.71 after being closed on Monday for the Summer Bank Holiday.

The German DAX 30 index lost 0.6% to 7002.68 and the French CAC index fell 0.9% to 3431.55.

Asian markets were mixed as investors fretted about the slowdown in global economic growth after Japan lowered its growth forecast.

The Nikkei fell 0.6% to 9033.29 and Korea's Kospi was 0.1% lower at 1916.33 as Samsung bounced back 1.3% after its fall on Monday.

In China, the Shanghai Composite ended up 0.9% to 2073.15, after trading flat for much of the session. In Hong Kong, the Hang Seng Index ended up 0.1% at 19811.80.
Australia's S&P/ASX 200 was up 0.4% to 4359.4.

Commodities: Oil rises
The oil market traded against a background of Hurricane Isaac’s arrival on the US southern coastline, the location of most US offshore oil wells.

Front-month oil futures were up 71USc, or 0.7%, at $US96.18 a barrel. Brent futures were fractionally lower at $US112.25.

Currencies: US dollar drops
The US dollar declined after European Central Bank President Mario Draghi cancelled a planned appearance at the Federal Reserve's high-profile economic forum in Jackson Hole, Wyoming.

Fed chairman Ben Bernanke will address the conference at the end of this week when he may drop hints of easier monetary policy, which will devalue the dollar.

The ECB cited a heavy workload for Mr Draghi's change in plans.

The euro was at $US1.2561 compared with $US1.2499 late on Monday. The dollar was at ¥78.50 compared with ¥78.75, while the euro traded at ¥98.610 from ¥98.43. The pound changed hands at $US1.5826 compared with $US1.5794, while the dollar bought 0.9559 Swiss franc from 0.9610 franc.