U.S. Stocks Erase Drop as Bank Rally Offsets Europe Woes
U.S. stocks erased declines as a rebound in financial shares overshadowed earlier concern over European leaders’ efforts to stem the debt crisis.
The Standard & Poor’s 500 Index rose less than 0.1 percent to 1,460.39 at 2:52 p.m. in New York, after dropping as much as 0.6 percent earlier. The Dow Jones Industrial Average gained 18.64 points, or 0.1 percent, to 13,598.11. Financial shares rallied 0.4 percent as a group, reversing a drop of 0.4 percent.
Stocks fell earlier as European leaders clashed on ways to stem the debt crisis and data from China and Germany signaled the slowdown is deepening.
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