U.S. stocks retreated after the Standard & Poor’s 500 Index climbed within four points of a record, as a drop in transportation companies offset gains in consumer shares.
The Dow Jones Transportation Average dropped after railroad Kansas City Southern cut its outlook. The Nasdaq Biotechnology Index fell 2.2 percent after setting a record Friday.
The S&P 500 slipped 0.2 percent to 2,104.44 at 4 p.m. in New York. The Nasdaq Composite Index lost 0.3 percent.
The S&P 500 and Dow are less than 1 percent from records they last reached on March 2. The Nasdaq Composite jumped on Friday to a 15-year high, almost erasing its losses since the end of the dot-com bubble. The S&P 500 rose 2.7 percent last week, with the dollar weakening, as concern eased about an interest-rate increase.
Source : Bloomberg