U.S. Stocks Fall as Housing Data Overshadow Durable-Goods Orders
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U.S. stocks fell, following the longest rally for the Standard & Poor’s 500 Index since 2004, as a drop in pending home sales overshadowed a rise in durable-goods orders while investors watched earnings.
AK Steel Holding Corp. lost 7.4 percent after Goldman Sachs Group Inc. downgraded the shares. Caterpillar Inc. added 2 percent as it forecast faster growth in the year’s second half. Facebook Inc. rose 3 percent as options traders were the most bullish on the shares on record. Apple Inc. climbed 2.3 percent, after its worst weekly slump since 2008. Yahoo! Inc. jumped 4.7 percent in late trading after posting its results.