Stocks Pare Biggest Monthly Rally Since November: Markets Wrap
- Kaplan wants to talk tapering, breaking ranks with Powell
- Personal incomes surge by most on record on fiscal stimulus
This article is for subscribers only.
Stocks dropped from a record as traders assessed corporate earnings, economic data showing potential inflation pressures and hawkish remarks from a Federal Reserve official. The dollar climbed.
The S&P 500 trimmed its biggest monthly advance since November, with energy and technology shares leading declines on Friday. Twitter Inc. tumbled as the social media company posted a sluggish start to the year in its advertising business. Despite living up to Wall Street’s profit expectations, Chevron Corp. retreated after disappointing investors who were anticipating a revival of buybacks.