U.S. stocks fluctuated, after the Standard & Poor’s 500 Index yesterday ended a four-day losing streak, as investors continued to weigh whether the economy is growing enough to handle higher interest rates as soon as next month.
Home security company ADT Corp. jumped 5.1 percent to lead industrials after its quarterly results beat analysts’ estimates. The tables have turned on retailers after they ranked among yesterday’s leaders. Macy’s Inc. slumped the most in more than six years following a cut in its profit forecast. Energy shares sank along with oil prices as crude flirted with a two-month low amid ample stockpiles.
The S&P 500 rose 0.2 percent to 2,085.20 at 12:32 p.m. in New York, erasing an earlier 0.3 percent retreat. The Dow Jones Industrial Average added 29.39 points, or 0.2 percent, to 17,787.60. The Nasdaq Composite Index gained 0.5 percent as Amazon.com Inc. and Facebook Inc. advanced more than 1.6 percent. Bond markets are closed today in observance of the Veterans Day holiday.
The S&P 500 ended Tuesday up 0.2 percent after a session of fluctuations. The gauge has rebounded after its first correction in four years, coming within 1 percent last week of a record reached in May. A measure of market volatility had its biggest drop ever in October with equities posting their strongest month since 2011 as central banks worldwide pledged to support growth.