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

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.

(Corrects economist estimate in third paragraph.)
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