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US STOCKS SNAPSHOT-Dow briefly turns negative as banks drop

Wed May 20, 2009 10:21pm IST
 
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NEW YORK, May 20 (Reuters) - The Dow industrials briefly turned negative on Wednesday as bank stocks extended losses, while the S&P 500 and Nasdaq trimmed gains.

* The pullback in financials tempered optimism from positive broker comments on bellwethers McDonald's (MCD.N: Quote, Profile, Research) and Procter & Gamble (PG.N: Quote, Profile, Research).

* The KBW bank index fell 2 percent to a session low, while shares of JPMorgan Chase (JPM.N: Quote, Profile, Research) declined 2.4 percent. Goldman Sachs (GS.N: Quote, Profile, Research) shed 3 percent to $136.71.

* The Dow Jones industrial average .DJI gained 12.98 points, or 0.15 percent, to 8,487.83. The Standard & Poor's 500 Index .SPX rose 3.50 points, or 0.39 percent, to 911.63. The Nasdaq Composite Index .IXIC climbed 7.45 points, or 0.43 percent, to 1,741.99. (Reporting by Ellis Mnyandu; editing by Jeffrey Benkoe)

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