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Stocks End Lower as Late Rally Falters; Bonds Gain: Markets Wrap

  • Breach of key 2,700 level for S&P triggered afternoon rally
  • Crude sinks to one-month low; Gold, yen rally on haven buying
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Wells Fargo's Wren Says Clients Should Be BuyingSource: (Bloomberg)
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U.S. stocks closed lower for a fifth day, as an afternoon rally from the lowest levels for the S&P 500 since May fell short of pushing benchmark indexes back into positive territory. Treasury yields declined and crude oil tumbled.

The S&P 500 pared to 0.6 percent a loss that took it below 2,700 for the first time since July, while the Nasdaq Composite Index flirted with a correction before paring losses. Defensive sectors from consumer staples to real-estate firms recovered. Verizon and McDonald’s advanced on solid results, while Netflix led gains in tech shares.