S&P 500 Index Erases 1.5 Percent Drop Sparked by China Concerns
JPMorgan's Bilton Says China Has to Walk Fine Line
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The Standard & Poor’s 500 Index erased a 1.5 percent loss sparked by concerns on China’s economy, as the gauge rose back above its average price during the past 200 days.
Energy companies led the comeback as some of the market’s more beaten-down shares rallied. Exxon Mobil Corp. and Chevron Corp. advanced more than 1.1 percent. Apple Inc. climbed 1.5 percent, reversing an earlier 3.4 percent drop, and Intel Corp. rose 1.7 percent to pace gains among technology companies. Financials fell, with Bank of America Corp. and JPMorgan Chase & Co. losing more than 1.4 percent.