Economics
U.S. Stocks Slip From Records on Data as Crude Oil Sinks
This article is for subscribers only.
U.S. stock indexes retreated from records as an unexpected drop in consumer confidence offset faster economic expansion. Treasuries rose, while the dollar weakened and crude oil slid to a more than four-year low.
The S&P 500 dropped 0.1 percent by 4 p.m. in New York, snapping a three-day climb and falling from an all-time high with the Dow Jones Industrial Average. The Stoxx Europe 600 Index rose 0.2 percent as Germany’s Dax Index capped its longest winning streak since May 2013. Yields on 10-year Treasuries fell five basis points to 2.26 percent, while the Bloomberg Dollar Spot Index touched a five-year high before reversing, as the euro strengthened. West Texas Intermediate crude sank 2.2 percent ahead of this week’s OPEC meeting.