Bloomberg News

U.S. Stocks Little Changed as Technology, Consumer Shares Slide

September 29, 2011

Sept. 29 (Bloomberg) -- U.S. stocks were little changed, a day after the Standard & Poor’s 500 Index fell 2.1 percent, as consumer and technology companies pulled benchmark indexes lower.

The S&P 500 fell 0.1 percent to 1,150.37 at 1:52 p.m. New York time, after climbing as much as 2.2 percent earlier after U.S. reports tempered concern the economic rebound was in jeopardy and German lawmakers backed expansion of a European bailout fund. The Dow Jones Industrial Average rose 59.30 points, or 0.5 percent, to 11,070.20 today.

U.S. stocks slid yesterday, halting a three-day rally for the S&P 500, on concern that European leaders are divided over how to handle Greece’s debt crisis. A four-day rout last week erased $1 trillion from U.S. equities amid concern Greek insolvency is inevitable and Europe can’t contain the damage.

--Editor:

To contact the reporter on this story: Joanna Ossinger in New York at jossinger@bloomberg.net

To contact the editor responsible for this story: Jeff Sutherland at jsutherlan13@bloomberg.net


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