U.S. Stocks Reverse Loss as Consumer Staples, Energy Gain

U.S. stocks reversed early losses as ConAgra Foods Inc. led consumer-staples companies higher after boosting its profit forecast and energy shares halted a three-day slump.

ConAgra, the maker of Orville Redenbacher’s popcorn, surged 6.4 percent after also increasing its dividend. Exxon Mobil Corp., Chevron Corp. and Schlumberger Ltd. paced an advance in energy producers.

The Standard & Poor’s 500 Index was down 0.2 percent at 1,458.18 at 2:31 p.m. in New York after sliding as much as 0.8 percent. The Dow Jones Industrial Average rose 6.35 points to 13,584.31 after erasing an earlier 75 point slide.

Benchmark indexes slumped earlier as data from China to Japan and Europe fueled concern that the global economy was slowing.

To contact the reporter on this story: Michael P. Regan in New York at mregan12@bloomberg.net

To contact the editor responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.