U.S.
stocks erased losses as gains in phone and health-care companies offset
a slide in small-cap shares and data showing manufacturing expanded
less than forecast.
AT&T
Inc. gained 1 percent. Weight Watchers International Inc. plunged 14
percent as the Russell 2000 Index lost 0.4 percent. Apple Inc. fell 1
percent to pace declines in technology shares.
The
S&P 500 rose 0.1 percent to 2,061.01 at 3:49 p.m. in New York,
after dropping 0.6 percent earlier in the day. The Dow Jones Industrial
Average added 34.84 points, or 0.2 percent, to 17,857.91. Trading in
S&P 500 companies was 22 percent below the 30-day average for this
time of the day.
The
benchmark index fell on the last two days of 2014, giving it a monthly
decline of 0.4 percent for the first December drop since 2007. That
trimmed its third straight annual gain to 11 percent.
Stocks
fell earlier today after a report showed manufacturing in the U.S.
cooled in December, settling into a more sustainable pace of growth as
the year drew to a close.
The
Institute for Supply Management™s factory index dropped to a six-month
low of 55.5 from 58.7 in November, a report from the Tempe,
Arizona-based group showed. The reading in October matched a three-year
high.
Source : Bloomberg
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