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.
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