U.S. stocks fell, halting a seven- day win streak for the Standard & Poor’s 500 Index, as materials producers slid amid growing concern over Syria and investors weighed the prospects for Federal Reserve stimulus cuts.
U.S. stocks fell, halting a seven- day rally in the Standard & Poor’s 500 Index, while gold slid the most since July and Treasuries erased early gains as investors weighed prospects for Federal Reserve stimulus. Oil climbed ahead of U.S.-Russian talks on Syria.
U.S. stocks erased an earlier rally after the Federal Reserve refrained from indicating when it will reduce the pace of stimulus and data showed the economy grew more than projected in the second quarter.
Treasuries rose, reversing earlier losses, and the dollar declined after the Federal Reserve refrained from indicating when it will reduce the pace of stimulus. Stocks erased gains in the final hour of trading.
“We’ve had a pretty good crisis,” says Barry Bausano , smiling as he surveys Deutsche Bank AG’s sprawling 35,000-square-foot equities trading floor in downtown Manhattan. Behind him, on bookshelves in his glass-walled office, sit two copies of “Too Big to Fail,” along with “Liar’s Poker” and “Triumph of the Optimists,” which tracks 101 years of worldwide investment returns.
U.S. stocks fell, halting the longest rally for the Standard & Poor’s 500 Index since January, as Coca-Cola Co. slid after earnings declined and a Federal Reserve official called for cuts to stimulus. Treasuries were little changed, the dollar weakened and crops rallied.
U.S. stocks retreated, giving benchmark indexes their first back-to-back drops in one month, as a contraction in China manufacturing offset American housing data and investors weighed Federal Reserve stimulus comments.