July 13 (Bloomberg) -- U.S. stocks pared gains following a report that Speaker of the House John Boehner said there is no guarantee the debt limit will be raised if a deal is not made by Aug. 2.

The Standard & Poor’s 500 Index gained 0.4 percent to 1,318.31 at 3:19 p.m. in New York after rallying 1.4 percent earlier. The Dow Jones Industrial Average trimmed its gain to 52.9 points, or 0.4 percent, to 12,499.78.

“It’s a crap shoot,” Boehner said, according to the Associated Press.

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