Tech shares decline; yields climb amid auctions
Vildana Hajric and Claire Ballentine, Bloomberg News
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Technology shares led U.S. stocks lower before earnings and an influx of bond supply that loom as speedbumps to a roaring rally.
The communication services and information technology sectors pushed the S&P 500 into negative territory in the wake of a third straight week of gains for the benchmark index. In Europe, retailers and travel companies led declines on the Stoxx Europe 600 Index.
Yields rose as the U.S. Treasuryâs auction of three-year notes attracted slightly lower demand than the previous sale. The government will offer 10-year securities at 1 p.m. New York time and 30-year bonds tomorrow.
Stocks drop from record highs; yields edge higher - Article bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Vildana Hajric and Claire Ballentine, Bloomberg News
McCreath: U.S. PPI data encouraging sign for bonds VIDEO SIGN OUT
U.S. stocks slipped from record highs while investors weighed the start of corporate earnings season and an influx of bond supply that loom as speedbumps to a roaring rally.
Intel Corp. led tech shares lower after Nvidia Corp. said itâs offering the companyâs first server microprocessors, extending a push into Intelâs most lucrative market. The S&P 500 dipped into negative territory in the wake of a third straight week of gains for the benchmark index. In Europe, the Stoxx Europe 600 Index weakened.
Stocks Drop From Record Highs; Yields Edge Higher: Markets Wrap msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.