U.S. Stocks Pare Gains as Apple Rally Fades, Financials Retreat

U.S. stocks fluctuated as gains in Apple Inc. faded and banks retreated, wiping out an early rally.

Apple, which is forecast to sell 10 million iPhone 5s this weekend in the device’s debut, was up 0.2 percent after climbing as much as 0.9 percent this morning.

The Standard & Poor’s 500 Index was up less than 0.1 percent at 1,461.17 at 3:40 p.m. in New York after climbing as much as 0.5 percent. Financial shares in the index lost 0.2 percent as a group after rallying as much as 0.6 percent.

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