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The Closing Bell: U.S. Stocks Teeter Between Gains And Losses
FYI: U.S. stocks struggled to rebound from the worst December rout since the Depression, as weakness in health-care providers offset a rally in some big-cap tech shares. Oil rallied as Saudi Arabia cut exports.
The S&P 500 Index’s gain faded in the final hour of trading, putting the measure on track for a close near 2,510. The Dow Jones Industrial Average gained 18 points, while the Nasdaq indexes advanced 0.46%. A report that Saudi Arabia lowered oil exports fueled a surge in the price of crude. Equities started the day lower on poor sentiment sparked by a weak reading on Chinese manufacturing, which added to concern that global growth is slowing.
The 10-year Treasury yield held near 2.65 percent, the lowest in 11 months, while similar-maturity German bunds remained on a tear. The yen was higher versus the dollar, which gained against most of its other major peers.
Five of the eleven S&P 500 Sectors led by Energy were in positive territory. Regards, Ted
