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U.S. Stocks Erase Gains as Industrial, Commodity Shares Decline

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Nov. 14 (Bloomberg) -- U.S. stocks erased early gains as industrial and commodity companies retreated, overshadowing an advance in technology shares after Cisco Systems Inc.’s earnings topped estimates.

The Standard & Poor’s 500 Index was up less than 0.1 percent at 1,375.06 at 9:58 a.m. in New York after earlier rallying as much as 0.4 percent. The gauge has declined almost 4 percent since President Barack Obama’s re-election on Nov. 6 set up a showdown over the budget with the Republican-controlled House of Representatives.

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