Economics
Most U.S. Stocks Decline on Fed’s Reduced Forecast for Growth
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Most U.S. stocks fell, halting a six-day rally, as a drop in retail sales and the Federal Reserve’s assessment that the economic outlook has “softened” overshadowed Intel Corp.’s forecast for record profit.
Home Depot Inc., American Express Co. and Alcoa Inc. declined the most in the Dow Jones Industrial Average as minutes from the Fed’s last meeting showed policy makers saw no need to boost economic stimulus even as they trimmed growth forecasts. Intel, the largest chipmaker, rose 1.7 percent after reporting record second-quarter sales. Stocks pared losses in the final minutes of trading.