* Stocks turn lower after weak US existing home sales data
* U.S. dollar falls as risk appetite improves
* U.S. Treasuries post slight gains as stocks fall
By Emily Flitter
NEW YORK, Feb 26 (Reuters) - U.S. stocks fell on Friday and
the dollar was down against major currencies after worse than
expected U.S.housing market data, while traders covered euro
short positions following an easing of worries over Europe's
debt crisis.
U.S. sales of existing homes fell 7.2 percent in January
but were up 11.5 percent compared to January last year. For
more, click on []
"It is not good news," said Timothy Dwyer, the chief
executive of Entitle Direct Group in Stamford, Connecticut.
"The existing home sales down another 7.2 pct after the decline
in December of close to 17 percent really negates the gains
being put together in the fourth quarter of 2009."
The U.S. dollar slipped against major currencies as an
improvement in risk appetite prompted investors to pare back
extreme short positions on the euro on the last business day of
the month.
Global stock and commodities' prices were firmer, reducing
some safe-haven bids on the U.S. dollar and boosting
commodity-linked currencies such as the Australian and New
Zealand dollars.
Revised U.S. GDP data showed the U.S. economy grew 5.9
percent in the fourth quarter, higher than the government's
first estimate, briefly boosted the dollar. [ ID:nN25113351.
But the overall bias favors selling dollars, traders said,
after the dollar rose more than 2.0 percent this month versus
the euro.
Greece revealed higher-than-expected budget revenues, while
expectations for solid corporate results pushed world stocks
higher.
In U.S. stocks, benchmark indexes were down. The Dow Jones
industrial average <> was down 22.14 points, or 0.21
percent, at 10,298.89. The Standard & Poor's 500 Index <.SPX>
was down 1.97 points, or 0.18 percent, at 1,100.97. The Nasdaq
Composite Index <> was down 3.27 points, or 0.15 percent,
at 2,230.95.
On the NYSE decliners were beating advancers 1657 to 1092
with 167,128,412 shares changing hands. On the Nasdaq
decliners were beating advancers 1475 to 807 with 359,103,350
shares changing hands.
U.S. Treasury debt prices were higher.
The benchmark 10-year U.S. Treasury note <US10YT=RR> was up
4/32, with the yield at 3.6192 percent. The 2-year U.S.
Treasury note <US2YT=RR> was up /32, with the yield at 0.8197
percent. The 30-year U.S. Treasury bond <US30YT=RR> was up
9/32, with the yield at 4.5624 percent.
In currencies, the U.S. dollar was down against a basket of
major trading-partner currencies, with the U.S. Dollar Index
<.DXY> down 0.15 percent at 80.665 from a previous session
close of 80.787.
The euro <EUR=> was up 0.15 percent at $1.3575 from a
previous session close of $1.3555. Against the Japanese yen,
the dollar <JPY=> was down 0.19 percent at 88.90 from a
previous session close of 89.070.
In energy and commodities prices, U.S. light sweet crude
oil <CLc1> rose 75 cents, or 0.96 percent, to $78.92 per
barrel,, and spot gold prices <XAU=> rose $3.55, or 0.32
percent, to $1109.20. The Reuters/Jefferies CRB Index <.CRB>
was up 1.36 points, or 0.5 percent, at 272.23.
(Additional reporting by Lynn Adler and Gertrude
Chavez-Dreyfuss in New York and Natsuko Waki in London)
