US STOCKS-Wall Street ends near flat as Russia concerns linger

miércoles 6 de agosto de 2014 16:55 GYT
 

* Dow, Nasdaq end slightly positive; S&P unchanged

* Consumer staples up 0.85 pct, lead S&P sector gains

* Telecoms worst-performing sector after Sprint passes on T-Mobile (Updates to close, changes prices, adds quote)

By Akane Otani

NEW YORK, Aug 6 (Reuters) - Major U.S. stock indexes ended little changed on Wednesday, as tensions in Ukraine and Russia and a failed merger between Sprint and T-Mobile offset gains in consumer staples shares.

An initial selloff took the S&P 500 to its 100-day moving average, but by the last hour of trading, the benchmark index was back near the unchanged mark. Sectors posted mixed performances, with four of the S&P's 10 industry sectors ending with gains.

The S&P 500 telecom services sector slipped 1.3 percent and was the worst-performing industry, with AT&T and Verizon down on news that Sprint, facing regulatory resistance, gave up its bid for T-Mobile.

Investors have been expecting a correction, but selloffs this year have generally been brief.

"We've had a lot of forces pushing the markets, whether it's earnings season, employment numbers or geopolitical concerns, but I think if people were really concerned about an invasion in Ukraine or the Middle East, you would see more than a 2 or 3 percent selloff," said Gary Flam, portfolio manager at Bel Air Investment Advisors in Los Angeles.   Continuación...