22 (Bloomberg) — U.S. stocks declined, with the Standard & Poor’s 500 Index slipping from an eight-month high, as energy producers dropped on lower oil prices and banks slid following an increase in bad loans at Wells Fargo & Co.

Exxon Mobil Corp. and ConocoPhillips fell as crude dropped for the first time in six days on a government report showing a smaller-than-forecast decrease in inventories. Wells Fargo, this year’s largest U.S. home lender, lost 3.6 percent. The Nasdaq Composite Index rose for an 11th straight day, its longest rally since 1996, as Starbucks Corp. surged the most since going public and Apple Inc. jumped on better-than-expected earnings.

The S&P 500 slipped 0.1 percent to 954.07 at 4:05 p.m. in New York. The Dow Jones Industrial Average decreased 34.68 points, or 0.4 percent, to 8,881.26. The Nasdaq Composite added 0.5 percent to 1,926.38.

(Bloomberg.com)