Economics
S&P 500, Dow Halt Winning Streaks, Small Caps Advance
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The Standard & Poor’s 500 Index halted a five-day rally, while small-cap shares rose to the highest level since July, as gains among phone and consumer stocks offset losses in utilities and growing concern over slowing growth in Europe.
Exelon Corp. led utility shares to the biggest drop since June as the U.S. and China agreed on new carbon cuts to fight climate change. Bank shares slumped 0.5 percent after regulators in Europe and the U.S. fined six lenders to settle a probe into the rigging of foreign-exchange benchmarks. Verizon Communications Inc. and AT&T Inc. climbed at least 0.9 percent. Macy’s Inc. added 5.1 percent after posting a gain in profit last quarter.