S&P 500 Erases Gain After Early Rally Triggered by ECB Rate Cut

The Standard & Poor’s 500 Index erased gains as telephone and consumer-staples companies led losses following an early rally triggered by a cut in the European Central Bank’s benchmark interest rate.

The S&P 500 was little changed at 1,770.12 at 9:55 a.m. in New York after rising as high as 1,774.54, a record on a closing basis.

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