May 15th, 2012

S&P 500 Futures – The Standard & Poor’s 500 Index (SPX) swung between gains and losses, after falling to the lowest level in three months, as Greece’s struggle to form a government tempered better-than-estimated American economic data.

Avon Products Inc. tumbled 12 percent after Coty Inc. withdrew its $10.7 billion offer. Lennar Corp. (LEN) and KB Home jumped at least 3.2 percent as a report showed homebuilder confidence climbed to the highest level since 2007. JPMorgan (JPM) Chase & Co. advanced 2.8 percent as Chief Executive Officer Jamie Dimon said he sees no reason the bank’s $2 billion trading loss would affect the dividend. Groupon Inc. (GRPN) surged 6.5 percent as the daily-deal website reported profit that beat estimates.

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