US stocks ended little changed yesterday as investors waited to see if the US Federal Reserve would offer more economic stimulus and if Greece made progress in talks to avoid a default.
In the lowest volume session since late August, the market gave up earlier gains of about one per cent as investors were wary of going home with long positions after an overnight downgrade of Italy’s credit rating.
Defensive sectors were the biggest advancers, indicating some investor nervousness.
The Dow Jones industrial average gained 7.65 points, or 0.07 per cent, to 11,408.66 at the close. The Standard & Poor’s 500 Index fell 2.00 points, or 0.17 per cent, to 1,202.09. The Nasdaq Composite Index lost 22.59 points, or 0.86 per cent, to 2,590.24.
AT&T rose one per cent while Celgene surged 7.1 per cent ahead of a review by European regulators of the biopharmaceutical company’s multiple sclerosis drug Revlimid.
Apple again hit an all-time intraday high, up almost three per cent to reach $422.86.