U.S. Stocks Pare Losses on Optimism Greece to Back Austerity
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Most U.S. stocks retreated as an advance in the final half hour spurred by optimism that Greece will commit to budget cuts stopped short of erasing a decline in the Standard & Poor’s 500 Index.
Bank of America Corp. slid 3.3 percent as Citigroup Inc. cut its recommendation. Yahoo! Inc. slumped 4.7 percent as talks on an Asia asset swap are said to have stalled. Masco Corp. tumbled 12 percent after the home improvement and building products maker reported a wider-than-projected loss. Boeing Co. added 1 percent after signing a 230-aircraft order worth $22.4 billion, setting a record for the planemaker.