U.S. stocks fluctuated as a rally in commodity prices boosted energy and raw-material shares, while consumer stocks declined.
Schlumberger
Ltd. and Freeport-McMoRan Copper & Gold Inc. advanced at least 1.4
percent as oil and copper prices increased. Walgreen Co. climbed 2.4
percent after saying it plans to close 76 drugstores. Carnival Corp.
declined 5.3 percent as it narrowed its full-year profit forecast.
The
Standard & Poor™s 500 Index was little changed at 1,856.26 at 12:27
p.m. in New York. It earlier rose as much as 0.8 percent. The Dow Jones Industrial Average
increased 20.56 points, or 0.1 percent, to 16,297.25. Trading in
S&P 500 stocks was in line with the 30-day average during this time
of the day.
The
S&P 500 slid yesterday as economic data signaled a slowdown in
American manufacturing and biotechnology shares slumped. The benchmark
index reached an intraday record on March 21 as data indicated the
economy is pulling out of a slowdown linked to unusually harsh winter
weather.
Copy Source: Bloomberg
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