Bloomberg News

U.S. Stocks Pare Gains on Concern Over European Summit Progress

October 26, 2011

Oct. 26 (Bloomberg) -- U.S. stocks trimmed gains as declines in Amazon.com Inc. and Ford Motor Co. weighed on consumer shares and a European official said the capacity of the region’s bailout fund may not be determined until November.

The Standard & Poor’s 500 Index rose 0.2 percent to 1,230.86 at 10:17 a.m. in New York after climbing as much as 1.2 percent.

European Union leaders may ask national finance ministers to determine the capacity of the expanded European Financial Stability Facility by the end of November, an EU official said. The leaders meet in Brussels later today and will back two EFSF leveraging options set out last week, the official said on condition of anonymity because the meeting hasn’t taken place yet.

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


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