US stocks turn higher in afternoon trading
Source: AP-Excite
By MATTHEW CRAFT
NEW YORK (AP) — A late rise in technology stocks helped the U.S. stock market stagger to a tiny gain following a choppy day of trading Tuesday.
A combination of tepid earnings results, falling oil prices and downbeat news kept the market lower for most of the day. Major indexes started higher in the first few minutes of trading but quickly faded, as slipping confidence among homebuilders and another drop in crude pulled housing and energy stocks down. The S&P 500 spent the afternoon slowly recovering, until a late surge in Apple, Netflix and other technology titans helped nudge the index up.
"There's just a lot driving trading today," Randy Frederick, managing director of trading and derivatives with the Schwab Center for Financial Research. "I think we're going to see more volatility for a while, not just down but up, too."
The S&P 500 index inched up 3.13 points, or 0.2 percent, to finish at 2,022.55.
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FILE - In this Wednesday, Oct. 8, 2014, file photo, a street sign for Wall Street hangs near the New York Stock Exchange. Global stock markets rose Tuesday, Jan. 20, 2015, and Shanghai rebounded from a dramatic dive the day before, after China's economic slowdown in the fourth quarter wasn't as sharp as feared and amid speculation that the European Central Bank will take steps to stimulate the economy. (AP Photo/Mark Lennihan, File)
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