S&P 500 falters late but ends with energy, tech gains

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The S&P 500 ended higher on Wednesday after a brutal two-day selloff, led by a rebound in energy and technology shares.

But the market faltered toward the session’s end as Apple shares surrendered gains ahead of the Thanksgiving holiday.

The Dow also gave up its gains to end flat, while the S&P 500 ended near its session lows, a sign of lingering bearishness.

Worries about slowing global growth and peaking corporate earnings have sapped risk appetite in recent months, throwing into doubt the longevity of the decade-old bull run for stocks.

Though the S&P technology index rose 0.6 percent, helped by a 9.7-percent-gain in shares of Autodesk Inc, Apple shares ended down 0.1 percent at 176.78 U.S. dollars after trading as high as 180.27 U.S. dollars during the session.

Software company Autodesk reported third-quarter results above analysts' estimates and announced an 875-million-dollar-deal to buy cloud-based software company PlanGrid.

The S&P energy index rose 1.6 percent as oil prices steadied after a six percent plunge on Tuesday.

The Dow Jones Industrial Average ended flat at 24,464.69, the S&P 500 gained 8.04 points, or 0.30 percent, to 2,649.93 and the Nasdaq Composite added 63.43 points, or 0.92 percent, to 6,972.25.

The Dow and S&P 500 remain in negative territory for the year.

Source(s): Reuters