S&P 500 Erases Loss as Apple Rally Paces Technology Rebound
The Standard & Poor’s 500 Index erased an earlier loss as a rally in Apple Inc. (AAPL) sparked a rebound in technology shares.
The S&P 500 rose less than 0.1 percent to 1,406.91 at 2:36 p.m. New York time, reversing a decline of as much as 0.7 percent.
Apple jumped 1.3 percent as it sent out invitations to a Sept. 12 product event in San Francisco, where the company is expected to introduce a redesigned iPhone.
U.S. stocks fell earlier as data showed American manufacturing contracted in August, fueling concern the economic recovery is slowing.