U.S. Stocks End Session Little Changed After Early Rally Fizzles
U.S. stocks closed little changed as a late-day slump in financial and technology shares wiped out an early rally triggered by China’s first interest-rate cut since 2008.
Oracle Corp. and Bank of America Corp. lost at least 1.3 percent to pace the retreat in technology companies and banks, while United Technologies Corp., Procter & Gamble Co. and Home Depot Inc. rose more than 1 percent to lead the Dow Jones Industrial Average higher.
The Standard & Poor’s 500 Index lost less than 0.1 percent to 1,315.00 at 4 p.m. in New York after rallying as much as 1.1 percent in early trading. The Dow ended the session up 46.17 points, or 0.4 percent, at 12,460.96 after rallying as much as 140 points.
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