US stocks were little changed on Monday, pulling back from earlier gains as consumer discretionary stocks fell. Wall Street had opened higher, extending a rally from Friday's session with the S&P 500 rising back above its 50-day moving average, but lost its advance throughout morning trading.
The S&P consumer discretionary sector fell 0.3 per cent as the biggest declining sector of the day. The group was pressured by H&R Block Inc, which lost 6.3 per cent to $29.67 a day after the company said its deal to sell its bank to BofI Federal Bank would not be approved by regulators before next year's tax season.
Among other names in the group, Nike Inc fell 1.6 per cent to $88.87 while Priceline Group was off 1.5 per cent at $1,124.49.
The S&P 500 is coming off its best day since August.
The S&P consumer discretionary sector fell 0.3 per cent as the biggest declining sector of the day. The group was pressured by H&R Block Inc, which lost 6.3 per cent to $29.67 a day after the company said its deal to sell its bank to BofI Federal Bank would not be approved by regulators before next year's tax season.
Among other names in the group, Nike Inc fell 1.6 per cent to $88.87 while Priceline Group was off 1.5 per cent at $1,124.49.
The S&P 500 is coming off its best day since August.