PT. Equityworld Futures – U.S. stocks fluctuated as Facebook Inc. pared earlier losses and a rally in Mondelez International Inc. helped offset Procter & Gamble Co.’s decline after results disappointed.
Facebook dropped 2.9 percent, and earlier more than 5 percent, after second-quarter spending jumped 82 percent. P&G retreated 3.5 percent after forecasting sluggish sales and profit growth. Whole Foods Market Inc. tumbled 11 percent after cutting its sales forecast. Modelez added 5 percent as quarterly profits beat estimates, and Western Digital Corp. jumped 10 percent.
The Standard & Poor’s 500 Index slipped 0.1 percent to 2,105.90 at 12:14 p.m. in New York, after falling as much as 0.6 percent. The gauge rebounded above its average prices during the past 50 and 100 days. The Dow Jones Industrial Average lost 16.83 points, or 0.1 percent, to 17,734.56. The Nasdaq Composite Index gained 0.1 percent.
A report today showed gross domestic product rose at a 2.3 percent annualized rate, and a revised 0.6 percent advance in the first quarter wiped out a previously reported contraction. Consumer spending grew more than projected. Separate data showed applications for unemployment benefits rose last week after reaching a four-decade low, consistent with a stronger labor market.
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