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Most U.S. stocks retreated as banks declined and faster-than-estimated growth in American jobs failed to support the market following the biggest three-day rally in the Standard & Poor’s 500 Index since August.
Dow 11,091.47 -31.86 -0.29%, Nasdaq 2,472.72 -34.10 -1.36%, S&P 500 1,154.32 -10.65 -0.91%
Financial stocks dropped the most among 10 groups in the S&P 500 after Federal Reserve Bank of Atlanta President Dennis Lockhart said regulators haven’t yet put in place a system that would allow orderly failures of the largest financial firms without taxpayer rescues. Bank of America Corp. and Goldman Sachs Group Inc. lost more than 3.2 percent. Home Depot Inc. and Boeing Co. rallied at least 1.6 percent, pacing gains among companies most-tied to the economy.
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