Pursuits
S&P 500 Erases Loss as Fed Minutes Show Stimulus Support
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The Standard & Poor’s 500 Index erased earlier losses as minutes from the Federal Reserve’s last meeting showed many policy makers favored more stimulus soon.
Apple Inc. rose 2 percent, pacing a recovery among technology companies. PulteGroup Inc. jumped 3.9 percent as a report showed sales of existing homes climbed in July from an eight-month low. Dell Inc. sank 5.4 percent after cutting this year’s profit forecast. Rival Hewlett-Packard Co. gained 1.6 percent in late trading after the world’s biggest computer maker reported profit and sales that matched analysts’ estimates.