U.S. stocks turned lower as a fading crude oil rally prompted the bears to sell, while better-than-expected economic data sided with the bulls. Crude briefly topped $50 a barrel earlier for the first time since November. Pending home sales in the U.S. surged to a 10-year high in April, the latest sign of a robust housing sector. The number of home contract signings rose just over five percent, its third straight month of growth. US Foods (USFD) shares jumped in there trading debut, topping their IPO price of $23 a share. The food services company sold more than 44 million shares in the second-largest IPO of the year. Costco (COST) rose after a mixed third quarter in which a stronger U.S. dollar and lower gas prices ate into sales. The second-largest retailer in the U.S. by sales said comparable store sales rose three percent when excluding currency exchange and fuel prices. TheStreet's Keris Lahiff has details from Wall Street.
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