MW: U.S. stocks give up most gains after Philly Fed
By Laura Mandaro
SAN FRANCISCO (MarketWatch) -- U.S. stocks came close to losing most gains and then bounced to a modest advance after the 10 a.m. release of leading economic indicators and a manufacturing index from the Philadelphia Federal Reserve. The Dow Jones Industrial Average DJIA -0.13% rose 7 points, or 0.1%, to 12,916. It had been up about 38 points before the data. The Nasdaq Composite COMP +0.34% gained 16 points, or 0.5%, to 2,958. The S&P 500 SPX -0.11% added 2 points to 1,374. The Philly Fed said its diffusion index rose to negative 12.9 in July from negative 16.6 in June, a shallower improvement than expected.
