U.S. stocks were little changed, following all-time highs for benchmark indexes yesterday, as investors awaited a European Central Bank decision on stimulus measures and a report on American employment in May.
The Standard & Poor��s 500 Index fell less than 0.1 percent to 1,924.23 at 4 p.m. in New York. The Dow Jones Industrial Average slipped 21.03 points, or 0.1 percent, to 16,722.60. Both gauges reached records yesterday. The Russell 2000 Index of smaller companies dropped 0.2 percent. Trading in S&P 500 companies was 14 percent below the 30-day average for this time of day.
Data today showed euro-area inflation slowed more than economists forecast in May, cranking up pressure on the ECB to deploy measures as soon as this week to kindle prices and drive growth. With ECB President Mario Draghi warning about the risk of a negative price spiral, the Governing Council is considering measures from negative interest rates to conditional liquidity for banks.
Source : Bloomberg