U.S. stocks
fluctuated, after the Standard & Poor’s 500 Index briefly erased
last week’s losses, as an early rally sparked by gains in Japan and
China faded.
Investors took a
breather following the second-strongest rally of 2015, as advances among
banks and commodity shares were offset by declines in health-care and
consumer staples companies. Copper producer Freeport-McMoRan Inc. rose
4.1 percent to lead raw-materials higher. Netflix Inc. jumped 6.8
percent, poised to snap a seven-day losing streak. The Nasdaq
Biotechnology Index slipped 0.7 percent after a 4.2 percent jump
yesterday.
The S&P 500 Index
added 0.2 percent to 1,973.32 at 12:43 p.m. in New York, after earlier
rising as much as 1 percent. The gauge surged 2.5 percent yesterday. The
Dow Jones Industrial Average gained 26.21 points, or 0.2 percent, to
16,518.89. The Nasdaq Composite Index advanced 0.4 percent after
climbing 1.1 percent earlier.
U.S. data today showed
job openings surged to a record in July, as hiring cooled, a sign
employers are having a hard time finding qualified workers. The number
of positions waiting to be filled jumped by 430,000, the biggest gain
since April 2010, to 5.75 million. Economists surveyed by Bloomberg
forecast 5.3 million openings.
Equities earlier
joined in a global rally as China’s markets climbed amid optimism that
more government stimulus is on the way, while stocks in Tokyo staged the
biggest rally since 2008 amid speculation a selloff that drove
valuations to an 11-month low was overdone. U.S. stocks pared gains
after the data showing higher-than-forecast job openings.
Source: Bloomberg
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