Bloomberg News

U.S. Stocks Trim Losses as Banks Lead Recovery From Early Drop

January 31, 2012

Jan. 31 (Bloomberg) -- U.S. stocks pared losses as banks rallied, helping the market recover from an early slump triggered by lower-than-forecasts data on consumer confidence and business activity.

The Standard & Poor’s 500 Index slipped less than 0.1 percent to 1,312.12 at 1:26 p.m. in New York after dropping as much as 0.5 percent. Financial shares in the index climbed 0.6 percent as a group, with Morgan Stanley and Goldman Sachs Group Inc. rising more than 2 percent.

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


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