U.S. stocks fluctuated, after the Standard & Poor’s 500 Index briefly erased last week’s losses, as an early rally sparked by gains in Japan and China faded.
Investors took a breather following the second-strongest rally of 2015, as advances among banks and commodity shares were offset by declines in health-care and consumer staples companies. Copper producer Freeport-McMoRan Inc. rose 4.1 percent to lead raw-materials higher. Netflix Inc. jumped 6.8 percent, poised to snap a seven-day losing streak. The Nasdaq Biotechnology Index slipped 0.7 percent after a 4.2 percent jump yesterday.
The S&P 500 Index added 0.2 percent to 1,973.32 at 12:43 p.m. in New York, after earlier rising as much as 1 percent. The gauge surged 2.5 percent yesterday. The Dow Jones Industrial Average gained 26.21 points, or 0.2 percent, to 16,518.89. The Nasdaq Composite Index advanced 0.4 percent after climbing 1.1 percent earlier.
U.S. data today showed job openings surged to a record in July, as hiring cooled, a sign employers are having a hard time finding qualified workers. The number of positions waiting to be filled jumped by 430,000, the biggest gain since April 2010, to 5.75 million. Economists surveyed by Bloomberg forecast 5.3 million openings.
Equities earlier joined in a global rally as China’s markets climbed amid optimism that more government stimulus is on the way, while stocks in Tokyo staged the biggest rally since 2008 amid speculation a selloff that drove valuations to an 11-month low was overdone. U.S. stocks pared gains after the data showing higher-than-forecast job openings.