Nov. 18 (Bloomberg) -- U.S. stocks gained after an index of economic indicators exceeded estimates, resuming an early rally that faded amid concern Germany was considering allowing “orderly defaults” among European nations.
The Standard & Poor’s 500 Index rose 0.3 percent to 1,219.78 at 10:13 a.m. in New York after climbing as much as 0.4 percent and slipping 0.1 percent.
The Conference Board’s gauge of the outlook for the next three to six months rose 0.9 percent, the biggest jump since February, after a 0.1 percent September increase, the New York- based research group said today. The median forecast of 56 economists surveyed by Bloomberg News projected the gauge would advance 0.6 percent.
Stocks erased gains earlier as Germany’s Foreign Ministry on Friday confirmed the nation was considering the possibility of more “orderly defaults” beyond Greece, according to the Deutsche Presse-Agentur.
--Editor: Nick Baker
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