U.S.
stocks fluctuated, after the biggest equities selloff in more than two
months amid the surging dollar, as declines in consumer companies offset
banks’ rebound.
Tyson
Foods Inc. and Pilgrim’s Pride Corp. fell more than 4.5 percent amid
reports of suspected bird flu in Arkansas. Citigroup Inc. and Bank of
America Corp. added at least 1.6 percent after financial stocks in the
Standard & Poor’s 500 Index Tuesday had their steepest decline since
April. Intel rallied the most since November after its biggest drop in
more than a month.
The
S&P 500 Index climbed less than 0.1 percent to 2,045.05 at 12:33
p.m. in New York. The gauge is trading near its average price for the
past 100 days. The Dow Jones Industrial Average added 30.85 points, or
0.2 percent, to 17,693.79. The Nasdaq Composite Index was little
changed.
The
dollar’s ascent to a 12-year high versus the euro sent American stocks
tumbling yesterday, erasing gains for the year on concern earnings are
in worse shape than investors recognized. The S&P 500 is down 0.6
percent in 2015, with the index trailing all but one of 24 developed
markets.
Source: Bloomberg
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