U.S. Stocks Erase Gains as Technology Shares Lead Losses
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U.S. stocks rose to a record, capping the best month since October, as improving consumer confidence and speculation that the Federal Reserve will support the economy offset concern over escalating conflict in Ukraine.
Principal Financial Group Inc. rose 1.6 percent after Keefe, Bruyette & Woods Inc. raised its rating on the stock. Monster Beverage Corp. advanced 4 percent after reporting sales that beat analysts’ estimates. Apple slid 0.3 percent as shareholders approved the company’s proposals and rejected those that the board opposed at its annual meeting. Deckers Outdoor Corp., the maker of Ugg boots, dropped 12 percent after forecasting an unexpected first-quarter loss.