The Standard & Poor’s 500 Index closed little changed in whipsaw trading, after a late-afternoon rebound paced by Apple Inc. and Intel Corp. offset a selloff in commodity shares driven by anxiety that China’s slowdown will spread.
Apple and Intel bounced at least 1.6 percent after falling more than 7.8 percent last week. Macy’s Inc. soared 8.2 percent, the most in two years, amid pressure to pursue real-estate deals. Miner Freeport-McMoRan Inc. sank 20 percent while Chevron Corp. dropped 1.7 percent as crude and copper tumbled. Biotechnology shares extended their longest rout in three months to drag down the health-care group. Alcoa Inc. slipped in after-hours trading despite earnings that exceeded estimates.