Economics
U.S. Stocks Retreat as Energy Shares Decline With Oil
This article is for subscribers only.
U.S. stocks retreated, after the Standard & Poor’s 500 Index rose the most in a year yesterday, as energy shares led losses amid a drop in oil prices.
Cimarex Energy Co. and Helmerich & Payne Inc. lost more than 4.6 percent to lead all 43 energy stocks in the S&P 500 lower. Biogen Idec Inc. slid 5.4 percent as sales of its top drug missed analyst estimates. Yahoo! Inc. added 4.5 percent after sales topped estimates. Broadcom Corp. jumped 5.5 percent after reporting earnings that beat estimates and giving a forecast that eased concern chip orders might be drying up.