U.S. Stocks Retreat, Snapping Six-Day Advance for S&P 500

A six day gain in the S&P 500 has been snapped. This decline has been led by a decrease in the stock prices of energy, financial and technology companies. The initial gain was the result of news of rise in home prices and increase in consumer confidence. However, as the dollar appreciated thereafter, its inverse relation with stocks prevailed. This allowed market watchers to observe a seventh day loss in the S&P 500.