Bloomberg News

U.S. Stocks Erase Gains as Bernanke Says Stimulus Not Ready

July 14, 2011

July 14 (Bloomberg) -- U.S. stocks erased gains after Federal Reserve Chairman Ben S. Bernanke said the central bank is not prepared “at this point” to take action to stimulate the economy.

The Standard & Poor’s 500 Index was little changed at 1,317.94 at 11 a.m. in New York after rising as much as 0.7 percent earlier. The Dow Jones Industrial Average rose 19.68 points, or 0.2 percent, to 12,511.29 after surging 90 points earlier.

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


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