Bloomberg News

U.S. Stocks Pare Gains as Commodity, Technology Shares Retreat

June 17, 2011

June 17 (Bloomberg) -- U.S. stocks pared gains as a slump in commodity and technology shares tempered an early rally triggered by optimism that European leaders were nearing a compromise on a financial rescue for Greece.

The Standard & Poor’s 500 Index rose 0.2 percent to 1,270.87 at 12:54 p.m. in New York after rallying as much as 1 percent earlier.

Energy and technology shares were the biggest drag on the index as oil slid 2.4 percent to $92.66 a barrel and Research In Motion Ltd. plunged 22 percent after the maker of the BlackBerry smartphone said quarterly revenue may drop for the first time in nine years.

To contact the editor responsible for this story: Michael Regan at mregan12@bloomberg.net


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