US STOCKS-Wall St climbs after 3-day drop; Citigroup up after results

martes 14 de octubre de 2014 15:14 GYT

* JPMorgan dips, Citigroup climbs after results

* Indexes up: Dow 0.4 pct, S&P 0.6 pct, Nasdaq 0.7 pct (Updates to late afternoon trading)

By Caroline Valetkevitch

NEW YORK, Oct 14 (Reuters) - U.S. stocks were up in late afternoon trading on Tuesday, with the S&P 500 recovering from a three-day losing streak that was its worst since November 2011.

The benchmark S&P has fallen in five of the prior six sessions, giving up most of its gains for the year, while the Dow has fallen into negative territory for 2014 as investors have reacted to a host of negative catalysts including the potential spread of Ebola, the effect of global economic weakness on U.S. earnings, and plunging oil prices.

The S&P 500 is up just 1.7 percent since Dec. 31, having lost more than 5 percent since its record closing high on Sept. 18.

"It was disappointing to see the gains we've had over nine months dissipate so quickly," said Larry Peruzzi, senior equity trader at Cabrera Capital Markets Inc in Boston.

"If this market doesn't calm down and we continue to see sentiment turn negative, it could set up for a difficult period over the next two months," he said.

While up, indexes were well off their highs for the session as energy shares extended their recent slide along with oil prices. The S&P energy index was down 0.1 percent for the day and 8.5 percent for the year.   Continuación...