U.S. Stocks Idle Near Records While HP Sinks; Gold, Oil Rebound
Internet Stocks Left Behind as Nasdaq Nears Record
Benchmark U.S. stock gauges were little changed near record levels, while Hewlett-Packard Co. and Apple Inc. led technology companies lower. The dollar weakened as Janet Yellen reiterated the Federal Reserve’s timetable for higher rates is flexible, as crude oil and gold rallied.
The Standard & Poor’s 500 Index lost 0.1 percent to 2,113.86 by 4 p.m. in New York, while the Dow Jones Industrial Average added 0.1 percent to extend its all-time high. The Nasdaq Composite Index halted its longest rally since 2009. Hewlett-Packard tumbled the most in 18 months after saying earnings will be hurt by dollar gains, as Apple slid 2.6 percent. The Stoxx Europe 600 Index snapped a six-day advance. The Bloomberg Dollar Spot Index declined 0.2 percent. Gold rebounded from a seven-week low, while coffee slid to its lowest price in a year. U.S. oil added 3.5 percent to $50.99 a barrel.