U.S. stocks fluctuated, after the longest streak of weekly gains since February, as investors awaited retailer earnings reports to gauge the strength of consumer demand and the likelihood of cuts to monetary stimulus.
Blackstone Group LP, the world’s biggest buyout firm, said first-quarter profit rose as market gains lifted the carrying value of its holdings. The shares fell after the company said a lackluster economy may curtail investing.
Investors from JPMorgan Chase & Co. to BlackRock Inc. are trying to make money from the exploding popularity of iPads and increasing sales of hybrid cars by investing in producers of lithium for batteries.
KKR & Co. and Chesapeake Energy Corp. are forming a partnership that will offer owners of oil and gas royalty interests the chance for upfront cash from producing wells or money before the full resource is assessed.