U.S. stocks swung
between gains and losses as crude slipped below $32 a barrel in New York
and China signaled it won’t seek a grand currency deal at the Group of
20 meeting. Treasuries advanced.
The Standard &
Poor’s 500 Index struggled to add to yesterday’s late-session rally as
energy producers fell 1 percent amid renewed selling in crude. Europe’s
benchmark index snapped a two-day losing streak after Lloyds Banking
Group Plc raised its dividend to boost beaten-down lenders. The dollar
firmed after data showed orders for U.S. capital goods rebounded in
January by the most since 2014. The Shanghai Composite Index sank the
most in a month as surging money-market rates indicated tighter
liquidity in China.
The S&P 500
climbed 0.3 percent at 12:12 p.m. in New York. The index rebounded late
Wednesday after a turnaround in crude-oil prices sparked broader buying.
The capital goods data was joined by a separate report that showed the
number of Americans filing applications for unemployment benefits rose
last week by more than estimated.
Bank shares, among the
worst performers this year, led gains with a 0.6 percent rise, while
Salesforce.com Inc. jumped after giving a forecast that topped
estimates. Restoration Hardware Holdings Inc. plunged 21 percent after
preliminary earnings missed estimates.
Source : Bloomberg
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