THE Dow and S&P 500 slipped yesterday as financial shares sank and on disappointing housing data, but the Nasdaq rose as investors snapped up technology shares ahead of results from Hewlett Packard.<br /><br />After a choppy session, financial shares fell as the US Senate passed a bill to curb sudden credit card interest rate increases and hidden fees, a move that analysts said would hurt the profits of major credit card issuers.<br /><br />“Any way you look at it, it’s less favorable for banks,” said Stephen Massocca, managing director at Wedbush Morgan. “It’s going to be more restrictive on interest rate raises,” he said.<br /><br />Shares of <strong>American Express</strong> fell 5.1 per cent to $24.79, while <strong>Capital One Financial</strong> fell 4.5 per cent to $24.90. Shares in <strong>JPMorgan Chase</strong> were off 3.9 per cent to $36.81.<br /><br />The Nasdaq was cushioned from the worst of the losses, with big tech stocks such as <strong>Apple</strong>, up 0.6 per cent to $127.45, leading gains as investors snapped up shares in the technology sector.<br /><br />The Dow Jones industrial average fell 29.23 points, or 0.34 per cent, to 8,474.85. The Standard & Poor’s 500 index lost 1.58 points, or 0.17 per cent, to 908.13. The Nasdaq Composite index added 2.18 points, or 0.13 per cent, to 1,734.54.<br /><br /><strong>Hewlett Packard</strong>, the world’s top personal computer maker, gave a more pessimistic revenue forecast for the fiscal year as it reported in-line results, sending its shares lower.<br /><br />HP fell 3.9 per cent to $35.14 in extended trade after rising more than 2 per cent during the regular session when it was among the top boosts to the Dow industrials.<br /><br />Also weighing on sentiment, US housing starts and permits fell unexpectedly to record lows in April, hitting shares in some residential construction companies such as <strong>Centex</strong>, down 2.9 per cent to $9.56, while the Dow Jones home construction index lost 0.8 per cent.<br /><br /><strong>Home Depot</strong> posted a stronger-than-expected quarterly profit, but its shares fell 5.3 per cent to $24.63, putting the stock among the Dow’s top drags, as the top US home improvement retailer said its markets remain under pressure.