S&P 500 Erases Loss as Consumer-Staples Companies Advance

U.S. stocks erased losses as Wal- Mart Stores Inc. and Costco Wholesale Corp. led consumer-staples companies higher, overshadowing a drop in commodity producers after Alcoa Inc. cut its forecast for aluminum demand.

Costco jumped 4.5 percent after the largest warehouse-club chain’s earnings topped estimates as low prices drove sales. Wal-Mart surged 2.5 percent after saying its back-to-school sales were “very strong.” Alcoa lost 2.6 percent.

The Standard & Poor’s 500 Index was up less than 0.1 percent at 1,442.41 at 10:31 a.m. in New York after dropping as much as 0.3 percent earlier.

To contact the editor responsible for this story: Michael P. Regan at mregan12@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.