U.S. stocks fluctuated as Netflix Inc. boosted consumer shares, while chipmakers tumbled. Greek bonds fell as pressure mounted for the country to secure funding, while oil pared losses and copper soared.
The Standard & Poor’s 500 Index lost 0.1 percent at 1:01 p.m. in New York, after closing 0.5 percent below an all-time high. Netflix surged 16 percent to a record, while a semiconductor gauge lost 0.6 percent. The Stoxx Europe 600 Index dropped 0.7 percent from an all-time high. The yield on Greece’s 10-year bond increased to the highest in more than two years. The Bloomberg Dollar Spot Index slid for a third day. Oil in New York was little changed after earlier sliding more than 2 percent.
Netflix rallied on higher subscriber numbers, while a weak sales forecast sent SanDisk Corp. lower by 5.4 percent. The dollar slipped as reports showed U.S. housing starts rose less than forecast in March while initial jobless claims unexpectedly gained last week, adding to signs growth is losing momentum. Oil has rallied more than 16 percent in April. Greece is facing a financing crunch that Germany’s Finance Minister says isn’t likely to be resolved before a meeting of euro-area lawmakers next week.