Pursuits
U.S. Stocks Decline for Week as Jobs Data, ECB Damp Optimism
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U.S. stocks fell for the week, after the Standard & Poor’s 500 Index reached a two-month high, as jobs data heightened concern about a slowing economy and Europe’s efforts to tame its debt crisis disappointed investors.
Industrial and financial stocks lost the most in the S&P 500 in the holiday-shortened week, sinking more than 1.2 percent, as eight out of 10 industries in the benchmark index retreated. JPMorgan Chase & Co., Bank of America Corp. and General Electric Co. led declines in the Dow Jones Industrial Average. Netflix Inc. surged 20 percent after an analyst said the company’s online audience exceeds cable and TV networks.