U.S. stocks retreated
after the Standard & Poor’s 500 Index climbed within four points of a
record, as a drop in transportation companies offset gains in consumer
shares.
The Dow Jones
Transportation Average dropped after railroad Kansas City Southern cut
its outlook. The Nasdaq Biotechnology Index fell 2.2 percent after
setting a record Friday.
The S&P 500 slipped 0.2 percent to 2,104.44 at 4 p.m. in New York. The Nasdaq Composite Index lost 0.3 percent.
The S&P 500 and
Dow are less than 1 percent from records they last reached on March 2.
The Nasdaq Composite jumped on Friday to a 15-year high, almost erasing
its losses since the end of the dot-com bubble. The S&P 500 rose 2.7
percent last week, with the dollar weakening, as concern eased about an
interest-rate increase.
Source : Bloomberg
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