Economics
U.S. Stocks Drop as Data, Profits Fuel Fed Taper Bets
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U.S. stocks fell, with the Dow Jones Industrial Average retreating from a record, as corporate earnings and an improving economy fueled speculation the Federal Reserve will reduce stimulus next month.
NRG Energy Inc. slipped 3.5 percent after the power generator lowered its 2013 adjusted earnings target. News Corp. dropped 1.6 percent as the publisher of the Wall Street Journal reported a decline in revenue. Dish Network Corp. rose 6 percent as the second-largest U.S. satellite-television provider’s earnings exceeded estimates.