U.S. Stocks Little Changed as Banks Gain, Airline Shares Slide

U.S. stocks were little changed, after equities reached a two-month low, as banks rallied amid higher bond yields while airlines weighed on transportation shares and technology companies slipped.

The Standard & Poor’s 500 Index rose less than 0.1 percent to 2,080.02 at 4 p.m. in New York, after fluctuating in a narrow range between gains and losses of 0.3 percent throughout the session. The index is down 2.3 percent since it last closed at a record on May 21. The Nasdaq Composite fell 0.2 percent.

Reports on consumer sentiment and retail sales are due this week, both of which are forecast to show an improving economy. Jobs data last week showed the strongest hiring in five months and the biggest wage gains in two years, bolstering bets the Federal Reserve will raise interest rates this year.

Source : Bloomberg


U.S. Stocks Little Changed Amid Airline Selloff, Fed Patience

U.S. stocks closed little changed, with the Standard & Poor’s 500 Index slipping for a second day, as a selloff in airlines offset Federal Reserve meeting minutes that showed officials in no hurry to raise interest rates.

The S&P 500 Index fell 0.1 percent to 2,125.80 at 4 p.m. in New York, after briefly climbing above its all-time high.

Fed officials last month didn’t expect to raise rates at their June meeting even as they concluded that a first-quarter economic slowdown was unlikely to persist, the meeting minutes showed. A “few” members said they anticipated the economy would be ready for a June liftoff.

Source: Bloomberg