U.S. stocks pared declines as energy shares trimmed losses with the price of crude, offsetting declines among financial and utility shares.
The Standard & Poors 500 Index (SPX) lost 0.1 percent to 2,037.32 at 11:41 a.m. in New York, trimming losses of as much as 0.4 percent. The Dow Jones Industrial Average declined 26.94 points, or 0.2 percent, to 17,587.96. Both gauges closed at all-time highs yesterday. Trading in S&P 500 stocks was 21 percent below the 30-day average at this time of day.
The S&P 500 had gained for five straight sessions, bringing its advance from a six-month low in October to 9.5 percent, as better-than-estimated corporate earnings and economic data boosted confidence the U.S. economy is weathering a global slowdown.
Source : Bloomberg