U.S. stocks fluctuated as weaker-than-forecast retail sales added to signs of slowing growth, while energy shares rallied with the price of crude.
JPMorgan gained 1.7 percent after reporting quarterly profit that beat analysts’ estimates. Chevron Corp. climbed 1.8 percent as oil rose for a fourth day. Google Inc. lost 1.3 percent while Microsoft Corp. and Cisco Systems Inc. declined. Norfolk Southern Corp. fell 5.6 percent after saying lower-than-expected revenue will probably lead to a decline in first-quarter earnings.
The Standard & Poor’s 500 Index rose 0.1 percent to 2,095.16 at 12:13 p.m. in New York, after earlier falling as much as 0.4 percent. The Dow Jones Industrial Average added 58.23 points, or 0.3 percent, to 18,035.27. The Nasdaq Composite Index declined 0.3 percent as technology shares retreated.
Sales at U.S. retailers rose less than forecast in March after being depressed by harsh winter weather, signaling consumers are intent on not overextending themselves.
Purchases increased 0.9 percent, the first gain in four months, after a 0.5 percent drop in February, Commerce Department figures showed. The median forecast of 87 economists surveyed by Bloomberg called for a 1.1 percent advance.
Source : Bloomberg