Stocks retreat from record closes as stocks closed mostly lower. The Dow Jones and S&P 500 also broke their 6-day winning streak today. Stocks ended lower after six major banks were fined $4.3 billion in a foreign exchange probe, these banks are JPMorgan Chase (JPM), Citigroup (C), HSBC (HBC), Royal Bank of Scotland (RBS), UBS (UBS), and Bank of American (BAC). AT&T (T) announced today that they will be halting their investment on broadband Internet expansion until federal rules on open Internet are further clarified. AT&T’s CEO stated that they would not move further with this investment until there is more clarity.
Word on the Street
- Marissa Mayer has spent $2.1B since becoming Yahoo’s (YHOO) CEO.
- Will the Dow reach 21,000?
- Don’t expect gas prices to stay at $3 a gallon.
- Twitter (TWTR) soars after CEO promises ‘major changes’.
- Should Apple (AAPL) buy Telsa (TSLA)?
- Wayfair (W) falls on widening net losses – despite higher revenues.