U.S.
stocks fell as General Electric Co. retreated from a six-year high,
leading industrial companies lower while investors awaited this week’s
corporate earnings reports.
The
Standard & Poor’s 500 Index declined 0.4 percent to 2,092.57 at 4
p.m. in New York. The Nasdaq Composite Index slipped 0.2 percent,
erasing an earlier gain that took it above 5,000 for the first time in
three weeks.
The
Nasdaq Composite climbed earlier Monday to within 25 points of its
record. Last month the index closed above 5,000 three times, its first
forays past that level since March 2000. It stalled within seven points
of its dot-com-era record on March 20, before dropping 2.5 percent to
the end of the month. It has rebounded about 2 percent in April after
posting its ninth consecutive quarterly gain, its longest streak ever.
The
Dow traded Friday within 1.3 percent of a record hit in March, while
the S&P 500 pulled within 1 percent of its record. With valuations
near their highest level in more than five years, investors are looking
to corporate profits for further clues on the strength of the U.S. bull
market that hasn’t seen a 10 percent correction since 2011.
Source : Bloomberg
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