Stocks Fall From Record as Earnings Set to Pick Up: Markets Wrap
- S&P 500 rally takes a break near technically overbought levels
- Tesla, Boeing need to mollify investors anxious over prospects
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Stocks took a breather after notching their longest weekly rally this year, with traders gearing up for key earnings reports from Tesla Inc. to Boeing Co. and United Parcel Service Inc.
Following a relentless advance to all-time highs, equities dropped from nearly overbought levels. In another sign of how greed has trumped fear, the S&P 500 hasn’t suffered back-to-back losses in about 30 sessions. While a month with no consecutive down days may not sound like much, the current streak ranks among the very best since 1928, according to data compiled by SentimenTrader.