Stocks Pull Back From Highs as Strong Data Sparks Growth Concerns
• Stock market indexes retreated from intraday highs on Friday, turning negative in afternoon trading after upbeat economic data • Dow clung to slight gains above 38,000 level, but S&P 500 and Nasdaq declined, led by drop in Intel shares • Visa stock fell from record high after earnings beat but slowing payment volume growth • American Express surged 6% despite profit/sales misses after upbeat full-year revenue outlook • Defense stock Booz Allen Hamilton gapped up over 12% following strong fiscal Q3 results and Relative Strength Line at 52-week high