Most U.S. Stocks Drop Amid Earnings While Treasuries Advance
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Most U.S. stocks fell, sending the Standard & Poor’s 500 Index to a weekly loss, amid disappointing corporate earnings. The dollar rose to a four-month high and European shares closed at a six-year best.
The S&P 500 lost 0.4 percent at 4 p.m. in New York, as all 10 main industries retreated. The Dow Jones Industrial Average gained 0.3 percent, as American Express Co. and Visa Inc. rallied. The Bloomberg Dollar Spot Index added 0.3 percent, the highest since September. The yield on 10-year Treasuries dropped to the lowest since December 10. The Stoxx Europe 600 Index climbed 0.6 percent. Oil rose to a two-week high in New York.