Investors shifted focus to the Federal Reserve minutes, the First Data quarterly report and the Homebuilders Association’s January report on home sales. All three were strong.
Stocks took their longest winning streak since 1994 to an end.
Fixed income yields rose again after the Fed minutes disappointed some of those expecting an early interest rate increase. It’s unclear how market reaction will affect expectations of the Fed in 2018.
Global equity markets pulled back amid worries that China’s crackdown on leverage could slow growth.
Some senators delayed a vote on key legislation that will set caps on how much large banks can borrow.
At the same time, Alaska took a major step forward in advancing its oil pipeline. Last month, U.S. Commerce Secretary Wilbur Ross said the agency would help Alaska persuade China to export crude oil to its new pipeline, which could eventually help the state become a major producer of oil.
The Justice Department approved the permanent sale of Opower to Canada’s The Brookfield Business Partners.
Yosemite National Park lifted a recreational ban on vehicles that has kept popular trails closed for more than a month.