S&P 500 Retreats as Post-Election Rally Shows Signs of Fatigue
- Financial shares lag after longest climb in four months
- Apple helps pace tech gains as group rises for second day
Markets Anticipate Fed Rate Hike, Are They Right?
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U.S. stocks slipped, with post-election rallies in banks and industrial shares losing momentum as investors continued to assess the potential impact of President-elect Donald Trump’s policy plans.
Financial shares posted the first drop in eight days after an 11 percent surge, while declines of more than 1.1 percent in Caterpillar Inc. Boeing Co. weighed on the industrials group. Energy producers fell with crude. Apple Inc. and Visa Inc. added more than 2.1 percent to pace a second day of gains in technology, blunting a broader retreat. Target Corp. rose the most in two years, leading retailers higher after a strong back-to-school season fueled its quarterly earnings.