Wall St ends lower, but able to bounce off support
NEW YORK (REUTERS) - United States (US) stocks slipped on Wednesday as technical support offset the latest batch of mixed data, which failed to lift sentiment after a string of soft economic indicators earlier in the week.
In a volatile trading session, the benchmark Standard & Poor's 500 Index hit a session low of 1,737.92, marking its lowest level since Oct 18, before rebounding to briefly climb into positive territory with a session high of 1,755.79.
US data is being closely watched after a weak reading in the factory sector on Monday sent Wall Street into a tailspin and triggered a global equity sell-off. Wednesday's data left investors with little clarity about the economic impact from the harsh weather this winter.
Growth picked up in the US services sector in January, with steady strength in private-sector hiring, suggesting the winter weather that socked the country over the last several weeks had a limited effect on the economy.