Wall Street edges off five-year high, awaits earnings
NEW YORK (Reuters) – Stocks lost ground on Monday, as investors drew back from recent gains that lifted the S&P 500 to a five-year high, in anticipation of sluggish growth in corporate profits. Shares of financial companies dipped after a group of major U. S. banks agreed to pay a total of $8. 5 billion to end a government inquiry into faulty mortgage foreclosures. The KBW bank index , a gauge of U. S. bank stocks, was down 0. 3 percent. Other sectors were hit as well, most notably energy and utilities. The S&P 500 energy sector index fell 0. 8 percent and the utilities sector was off 1. 1 percent. . . .
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