U.S. stocks
fluctuated, after the Standard & Poor’s 500 Index yesterday ended a
four-day losing streak, as investors continued to weigh whether the
economy is growing enough to handle higher interest rates as soon as
next month.
Home security company
ADT Corp. jumped 5.1 percent to lead industrials after its quarterly
results beat analysts’ estimates. The tables have turned on retailers
after they ranked among yesterday’s leaders. Macy’s Inc. slumped the
most in more than six years following a cut in its profit forecast.
Energy shares sank along with oil prices as crude flirted with a
two-month low amid ample stockpiles.
The S&P 500 rose
0.2 percent to 2,085.20 at 12:32 p.m. in New York, erasing an earlier
0.3 percent retreat. The Dow Jones Industrial Average added 29.39
points, or 0.2 percent, to 17,787.60. The Nasdaq Composite Index gained
0.5 percent as Amazon.com Inc. and Facebook Inc. advanced more than 1.6
percent. Bond markets are closed today in observance of the Veterans Day
holiday.
The S&P 500 ended
Tuesday up 0.2 percent after a session of fluctuations. The gauge has
rebounded after its first correction in four years, coming within 1
percent last week of a record reached in May. A measure of market
volatility had its biggest drop ever in October with equities posting
their strongest month since 2011 as central banks worldwide pledged to
support growth.
Source: Bloomberg
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