China's industrial production grew less than economists estimated in April as electricity output fell and exports tumbled. Retail sales climbed. Output rose 7.3 percent from a year earlier, the statistics bureau said today, after gaining 8.3 percent in March. That was less than the 8.6 percent median estimate of 20 economists surveyed by Bloomberg News. Retail sales grew 14.8 percent from a year earlier. Most of the Asian markets were flat. The MSCI Asia Pacific Index rose 0.1 percent to 97.95 as of 11 a. m. in Tokyo. The benchmark dropped yesterday, ending a six? day winning streak. Nissan, Japan's thirdlargest automaker rallied 5.5 percent after predicting a narrower loss than analysts estimated. Toyota Motor Corp., the world's biggest automaker, fell 3.2 percent after saying it expects to cut vehicle production.

The Dow rose on Tuesday as investors scooped up defensive shares, including Pfizer, while energy companies' stocks climbed as oil hit a six? month high.

But the S&P was little changed and the Nasdaq fell as financial and technology shares declined after leading the recent rally from bear market lows.

Shares of chipmaker Intel Corp rose 3 percent to $15.67 in extended trade after the company's chief executive said that order and billing patterns in the second quarter so far were a little better than expected.

Home prices in the U. S. dropped the most on record in the first quarter from a year earlier, led by California and Florida, as banks sold foreclosed properties. The median price fell 14 percent to $169,000, the National Association of Realtors said today.

The inventory of previously owned homes on the market dropped to
3.7 million in March from 3.8 million a month earlier.

Meanwhile former Federal Reserve Chairman Alan Greenspan said that the decline in the U. S. housing market may be bottoming and it's "very easy to see" financial markets continuing to improve.

Post US, European Union bank regulators will also conduct confidential stress tests by September.

We're right at the precipice and people can't decide if the rally's still got room left or if we're priced about right and due for a sell? off. Post yesterday rally driven by FII purchase and Short Covering we may see some lower opening today. Market is expected to remain negative today.