U.S.
stocks slipped after erasing gains in the last 90 minutes of trading,
while anxiety eased over China’s shock currency devaluation leaving
investors focused on economic data and the pace of any Federal Reserve
interest-rate increases.
The
Standard & Poor 500 Index wobbled between gains and losses after
yesterday staging its biggest intraday recovery in three years, as
technical levels held up amid China’s roiling of global markets. Stocks
held Thursday in the tightest trading range since 1927 as labor and
sales data bolstered the case for higher interest rates as soon as next
month.
The
S&P 500 slipped 0.1 percent to 2,083.46 at 4 p.m. in New York,
after ranging between a 0.3 percent gain and falling as much as 0.4
percent.
The
S&P 500 yesterday erased a 1.5 percent loss sparked by concerns
China economy is faltering, reversing after it fell below 2,050. That’s
toward the bottom end of a range its been stuck in all year, with the
top being its May 21 record of 2,130. The gauge has advanced 1.2 percent
in 2015, never closing more than 3.5 percent above or below where it
started the year.
Source : Bloomberg
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