S&P 500 Retreats from Record Levels

The S&P 500 retreated Friday from the record it set in the previous session—pulled lower by technology shares—but remained on track for a big weekly gain.

The broad stock-market gauge fell 0.5% shortly after the opening bell. The Nasdaq Composite lost 1.7%. The Dow Jones Industrial Average added about 120 points, or 0.4%, and headed toward a fresh closing high.

“Markets will take a break after all the news we had yesterday,” said Sophie Chardon, a cross-asset strategist at Lombard…

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