Bloomberg News

U.S. Stocks Pare Gains After Roubini Says Recession Is Starting

August 31, 2011

Aug. 31 (Bloomberg) -- U.S. stocks pared gains after Nouriel Roubini said the economy is entering a recession, offsetting reports showing faster-than-estimated growth in American business activity and factory orders.

The New York University professor spoke in a Bloomberg Television interview.

The Standard & Poor’s 500 Index added 0.6 percent to 1,220.57 at 11:26 a.m. in New York, trimming its advance from 1.5 percent.

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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