U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for a third day, as President Barack Obama and Congress prepared to resume budget talks and retailers slumped after the Christmas holiday.
U.S. stocks fell, with the Standard & Poor’s 500 Index having the longest retreat in a month, as financial shares slumped and investors watched speeches from Federal Reserve officials for clues on monetary policies.
Stocks fell in the U.S. and Europe, led by financial shares, amid concern about weakening bank earnings and a political showdown in Washington over the budget. Commodities retreated, while Chinese equities rallied after industrial production beat estimates.
U.S. stocks retreated, trimming the longest monthly rally since September 2009 for the Standard & Poor’s 500 Index, as manufacturing contracted in China and Europe and FedEx Corp. tumbled amid a disappointing forecast.
U.S. stocks rose for the fifth week, giving the Standard & Poor’s 500 Index the longest rally since March, amid better-than-expected earnings and optimism that global central banks will take actions to stimulate growth.
U.S. stocks advanced, with benchmark indexes rallying the most in two weeks, on higher-than-estimated results at Boeing Co. and Yahoo! Inc. and speculation the Federal Reserve will inject more money into the economy.