U.S. stocks fell, with
the Standard & Poor’s 500 Index below its average price for the
past 50 days, as a drop in energy shares overshadowed a rally in
health-care while investors watched for a breakthrough in Greek debt
talks.
The S&P 500 Index slipped 0.3 percent to 2,102.43 at 4 p.m. in New York, falling for a second day.
The S&P 500 is
headed for a ninth week without a move of more than 1 percent, the
longest streak since August 1993, churning in a tight range as investors
await a resolution to the Greek crisis while assessing data for clues
on the timing of any Federal Reserve interest-rate increase.
French President
Francois Hollande held out the prospect of a deal for Greece even as
German Chancellor Angela Merkel said negotiations looked to be going
backward.
The contrast in tone
from the heads of Europe’s two biggest economies reflected the
frustration among leaders and finance ministers after days of talks in
Brussels failed to yield a breakthrough. Finance chiefs will reconvene
on Saturday for their fifth session on Greece in just over a week.
Source: Bloomberg
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