U.S. stocks fell, after the biggest tumble in five weeks for the Standard & Poor’s 500 Index, amid concern that President Barack Obama and Congress will fail to agree on a budget by the end of the year.
Ventas Inc., the biggest U.S. health- care real estate investment trust by market value, agreed to a pair of deals totaling $3.5 billion as it expands its ownership of medical offices and housing for the elderly.
U.S. stocks fell, erasing early gains, as President Barack Obama said international order is being tested by Russia’s annexation of Ukrainian territory. Treasuries rose following stronger-than-forecast demand at an auction. Oil and the yen rallied.
The Standard & Poor’s 500 Index erased gains in the final hour of trading as a rally in bank and industrial shares wasn’t enough to overcome disappointing results at Apple Inc. and an unexpected drop in new home sales.
Bill Stiritz paid scant attention to Herbalife Ltd. until a televised smackdown in January between billionaire hedge-fund activists Carl Icahn and Bill Ackman, who claims the nutrition company is a pyramid scheme. Icahn’s rebuttal convinced Stiritz to take a closer look.
The most exciting part of elevating Satya Nadella to chief executive officer of Microsoft Corp. may be that it would end the search to replace Steve Ballmer, investors in the world’s biggest software maker said.