U.S. stocks retreated, halting a six-day advance in the Standard & Poor’s 500 Index, as the standoff in Federal budget negotiations overshadowed a decline in jobless claims and a rebound in retail sales.

Newmont Mining Corp. and Mosaic Co. dropped at least 1.4 percent to pace losses in commodity shares.

Phillips 66, the crude refiner that was spun off from ConocoPhillips in May, declined 1.6 per cent on plans to raise as much as $400 million in an initial public offering for a minority interest in some of its pipeline and logistics assets.

CVS Caremark Corp. climbed 2 percent after forecasting profit that beat estimates.

Best Buy Co. jumped 16 percent on a report that founder Richard Schulze will offer to take the company private by Dec. 15.

The S&P 500 bounced off its 50 day moving average to close slightly off its day lows with about 6.1 billion shares changing hands on U.S. exchanges, or in line with the three-month average.

The MSCI Asia Pacific Index rose 0.3 percent yesterday, extending gains to an 11th day, the longest run since July 2009. Hong Kong very strong, trading at its highest level since March this year..

Chinese stocks jumped on speculation state-backed institutions were buying shares as a manufacturing survey added to optimism the economy will rebound. Equity trading volumes at the Shanghai Composite Index were more than double the 30-day average and 52 percent higher for the Taiex

Ping An surged amid speculation Co. is buying shares. Citic Securities Co. rose among brokerages in Shanghai,after previous day brokerage weakness, while Industrial & Commercial Bank of China Ltd. rallied the most since May 2011.

European stock futures advanced before a report that may show a measure of euro-area manufacturing and services increased 

David Brockman | Sales and Trading