U.S. stocks fell on Friday, rebounding for a second day in a row from more substantial losses, as concerns about slower economic growth held trading to a tight range.
Stocks were down by 1 percent early in the session after the release of data showing U.S. gross domestic product growth slowed in the second quarter. A separate report later showed business activity in the U.S. Midwest grew more than expected this month, spurring buying that helped equities rebound.
The S&P 500 Index has found support in the 1,088 to 1,090 range as economic data have come in mixed but earnings have shown strength.
“We’re reading through each piece of data to see if we’re on the upper end or the lower end of the trading range,” said Joseph Battipaglia, market strategist with Stifel Nicolaus in Yardley, Penn. “So you have a market today that is not breaking in either direction with any conviction.” [Read more...]





