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S&P 500 Erases Early Losses as ISM Corrects Its Data

(Corrects economist estimate in third paragraph.)

June 2 (Bloomberg) -- U.S. stocks erased early losses after the Institute for Supply Management corrected the reading in its May factory index to show manufacturing beat estimates.

The Standard & Poor’s 500 Index rose less than 0.1 percent to 1,924.79 at 11:31 a.m. in New York after earlier dropping as much as 0.4 percent.

The ISM corrected its index to read 56 after initially reporting the gauge fell to 53.2. Economists in a Bloomberg survey had forecast a reading of 55.5.

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

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