Following four consecutive sessions of gains last week, U.S. stocks retreated on Monday as investors were reminded the recovery will not be as speedy as the recent winning streak in the market. San Francisco Federal Reserve President Janet Yellen, spoke out on Monday against raising the current key interest rate, on the basis that the rebound has a long way to go and remains too delicate to endure the blow that a higher interest rate would bring. Elsewhere, continued reports that the 9.7 percent unemployment rate is unlikely to change significantly over the next two years remain a constant burden to the market. The Dow Jones Industrial Average opened low, falling 22.75 points to 10,379.6 while the The S&P 500 Index slipped 2.64 points to 1,106.53. The Nasdaq Composite declined by 5.34 points to 2,238.53.
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