Stocks fell, pulling the Standard & Poor’s 500 Index down from a record, and commodities slid as reports showed weaker growth in global manufacturing and private U.S. payrolls. Treasuries remained higher as the Federal Reserve reiterated its commitment to asset purchases.
U.S. stocks fell, dragging the Standard & Poor’s 500 Index from a record high, on slower growth in American payrolls and manufacturing as the Federal Reserve said it will maintain its bond buying to support the economy.
U.S. stocks fell, dragging the Standard & Poor’s 500 Index down from a record, as financial and energy shares tumbled after oil plunged and worse-than-estimated data spurred concern over economic growth.
Even as the U.S. produces more oil than at any time since 1992, gasoline remains a dollar higher than the average for the past decade in part because of George W. Bush-era rules that attach a 38-digit Renewable Identification Number to every gallon of ethanol.
Marathon Petroleum Corp., the crude refiner that was spun off from Marathon Oil Corp. in June, will consider an initial public offering for its pipeline assets that may be worth as much as $6.2 billion.