Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

S&P 500 Erases Loss as Retailers Gain on Sales Reports

Jan. 3 (Bloomberg) -- U.S. stocks erased early losses as retailers from TJX Cos. to Ross Stores Inc. led gains after reporting better-than-estimated monthly sales and a private report showed faster-than-forecast jobs growth.

The Standard & Poor’s 500 Index was little changed at 1,462.55 at 11:13 a.m. in New York after slumping as much as 0.3 percent in the first half hour of trading.

The S&P 500 surged 4.3 percent over the previous two sessions in its biggest advance in 13 months, bringing it within four points of a five-year high reached in September, amid optimism over the budget deal that avoids most of the more-than $600 billion in automatic spending cuts and tax increases.

To contact the reporter on this story: Michael P. Regan in New York at mregan12@bloomberg.net

To contact the editor responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.