Pursuits
U.S. Stocks Retreat as Europe Overshadows Jobless Claims Data
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U.S. stocks fell, sending the Standard & Poor’s 500 Index to its biggest weekly drop of the year, as renewed concern about Europe’s debt crisis overshadowed a drop in jobless claims to a four-year low.
Alcoa Inc. and General Electric Co. fell more than 1.3 percent for the biggest drops in the Dow Jones Industrial Average. Constellation Brands Inc. lost 12 percent, the most in the S&P 500, after the company forecast earnings that missed projections. Cabot Oil & Gas Corp. rose 2.2 percent as the price of oil climbed for the first time in three days. Bed Bath & Beyond Inc. added 8.5 percent, leading consumer discretionary stocks higher, as the retailer’s profit beat estimates.