U.S. stocks fell, with the Standard & Poor’s 500 Index below its average price for the past 50 days, as a drop in energy shares overshadowed a rally in health-care while investors watched for a breakthrough in Greek debt talks.
The S&P 500 Index slipped 0.3 percent to 2,102.43 at 4 p.m. in New York, falling for a second day.
The S&P 500 is headed for a ninth week without a move of more than 1 percent, the longest streak since August 1993, churning in a tight range as investors await a resolution to the Greek crisis while assessing data for clues on the timing of any Federal Reserve interest-rate increase.
French President Francois Hollande held out the prospect of a deal for Greece even as German Chancellor Angela Merkel said negotiations looked to be going backward.
The contrast in tone from the heads of Europe’s two biggest economies reflected the frustration among leaders and finance ministers after days of talks in Brussels failed to yield a breakthrough. Finance chiefs will reconvene on Saturday for their fifth session on Greece in just over a week.