Bloomberg News

U.S. Stocks Pare Losses as Euro Erases Drop, Crude Oil Rallies

November 16, 2011

Nov. 16 (Bloomberg) -- U.S. stocks trimmed early losses as energy and technology companies reversed declines and the euro recovered from a drop of as much as 0.8 percent. Crude oil surged to a five-month high.

The Standard & Poor’s 500 Index slipped 0.2 percent to 1,254.87 at 11:08 a.m. in New York after tumbling as much as 1.1 percent. The euro was down less than 0.1 percent at $1.3533. Crude oil climbed as much as 2.9 percent to $102.28 a barrel as Enbridge Inc. said it will reverse the direction of the Seaway pipeline, opening an outlet for crude from the central U.S. and Canada.

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


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