U.S.
stocks fluctuated, after panic eased over China 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
the index yesterday staged 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 increased 0.1 percent to 2,088.52 at 12:16 p.m. in New
York, after earlier losing as much as 0.4 percent. The Dow Jones
Industrial Average rose 29.90 points, or 0.2 percent to 17,432.41, and
the Nasdaq Composite Index added 0.3 percent.
The
S&P 500 yesterday erased an early loss of 1.5 percent loss sparked
by concerns China economy is faltering, as the gauge rose back above its
average price during the past 200 days. The index has closed below its
200-day moving average only two times in 2015, as the level once again
halted declines in equities. The gauge has advanced 1.4 percent this
year.
Source : Bloomberg
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