U.S. stocks fell for the first time in three days after retailers reported lower-than-estimated earnings and small-cap shares slumped. Treasuries advanced, the yen approached a three-month high and corn dropped.
Federal Reserve Bank of Philadelphia President Charles Plosser urged the Federal Open Market Committee to improve its public communication on policy by clarifying the likely path of the target interest rate.
U.S. prosecutors are seeking more than $13 billion from Bank of America Corp. to resolve federal and state investigations of the lender’s sale of bonds backed by home loans in the run-up to the 2008 financial crisis, according to people familiar with the matter.
The number of Americans filing for unemployment insurance payments hovered last week near the lowest level in almost seven years, and consumer confidence improved, showing the world’s largest economy is speeding up.