US stocks flat after third low trading day this year
US STOCKS were little changed yesterday as a late rebound in financial stocks offset nagging worries the Chinese government may tighten credit, a move that could slow growth in the global economy.
Banking stocks reversed late in the session after Christopher Dodd released a proposed financial regulation overhaul bill.
The KBW Banks index added 0.2 per cent.
The Dow Jones industrial average gained 17.46 points, or 0.16 per cent, to 10,642.15. The Standard & Poor’s 500 Index added 0.52 point, or 0.05 per cent, to 1,150.51. The Nasdaq Composite Index slipped 5.45 points, or 0.23 per cent, to 2,362.21.
The S&P Energy index was the worst performer among S&P sectors as crude oil declined 1.7 per cent to $79.80 a barrel on a stronger dollar.
About 7.24bn shares traded yesterday, the third slowest day of 2010.