US STOCKS-Shares mostly lower on euro worries; tech boosts

* Spain bailout of local bank fosters Europe debt worries

* Broker comments boost technology shares

* Homebuilders up on rise in April US existing home sales

* Indexes: Dow, S&P off 0.3 pct, Nasdaq up 0.3 pct

* For up-to-the-minute market news see [STXNEWS/US]

By Edward Krudy

NEW YORK, May 24 (BestGrowthStock) – U.S. stocks (Read more about the stock market today. ) mostly fell on
Monday as a Spanish government bailout of a local bank
refocused attention on Europe’s debt crisis, although positive
broker comments on some big-cap technology companies boosted
the Nasdaq.

The Bank of Spain took over Spanish savings bank CajaSur
over the weekend after a failed merger. Although a small bank,
investors feared the move may be a sign of more problems in
Europe’s banking system at a time when much of the region is
struggling with massive public deficits. For more details, see
[ID:nLDE64L003]

“There’s still a lot of questions unanswered about the
whole situation, and it’s really just going to take time,” said
Frank Lesh, a futures analyst and broker at FuturePath Trading
LLC in Chicago. “Will they be able to pull it off? Who else is
in trouble?”

The Nasdaq rose after Morgan Stanley raised its price target
on Apple Inc (Read more about Apple stock future.) (AAPL.O: ) to $310, boosting its shares 3 percent,
while Google Inc (Read more about Google Stock Analysis) (GOOG.O: ) rose 2.1 percent after Citigroup
added it to its top picks list.

The Dow Jones industrial average (.DJI: ) dropped 40.89
points, or 0.40 percent, to 10,152.50. The Standard & Poor’s
500 Index (.SPX: ) fell 2.27 points, or 0.21 percent, to
1,085.42. The Nasdaq Composite Index (.IXIC: ) gained 5.75
points, or 0.26 percent, to 2,234.79.

Citigroup (C.N: ) shares rose 3.2 percent to $3.87 after
Goldman upgraded the stock to “buy” from “neutral,” although
that was countered by a downgrade for Well Fargo & Co (WFC.N: )
to “neutral” from “buy,” which sent its shares down 3.8 percent
to $28.95.

Campbell Soup Co (CPB.N: ) posted a better-than-expected
profit on higher sales in its key U.S. soup market, helped by
increased promotional spending, and forecast full-year earnings
at the high end of its target. The shares fell almost 1 percent
to $35.14. [ID:nN24150692]

Homebuilders rose after sales of previously owned U.S.
homes rose more than expected in April to a five-month high,
reflecting a last minute dash by buyers to close contracts
before the expiration of a home buyer tax credit. The Dow Jones
home construction index gained 0.6 percent.

Investment Analysis

(Editing by Padraic Cassidy)

US STOCKS-Shares mostly lower on euro worries; tech boosts