Posted: 2/22/12 4:15 PM ET
US stocks finished modestly lower after hovering just below the flatline for most of the day, as some disappointing economic data from the eurozone rekindled recession concerns in the region. Meanwhile, data on the domestic front was focused on the housing market, as existing homes sales posted a solid gain in January, while mortgage applications declined over the past week. Treasuries moved higher, and gold prices continued to surge after reversing early losses. In equity news, Dell Inc posted disappointing 4Q profits and offered a lackluster revenue outlook, while Dow member Hewlett-Packard announced better-than-expected 1Q earnings after the closing bell. Elsewhere, Toll Brothers Inc reported a surprising quarterly loss, while results from Chico’s FAS Inc and Garmin Ltd both bested the Street’s expectations.
