NEW YORK (AP) — Stocks are swinging between gains and losses in midday trading. The price of gold slumped 4 percent as investors became less fearful.
The Commerce Department reported Wednesday that companies placed more orders for aircraft, automobiles and other durable goods in July. Orders rose 4 percent, the biggest increase since March. The report eased fears that the U.S. was headed for another recession.
The Dow is down 5 points to 11,171, erasing a morning jump of 115 points. It gained 322 points the day before.
The S&P 500 index fell less than 1 point to 1,162. It gained 38 points Tuesday, also its best day since Aug. 11. The Nasdaq fell 11 points, or 0.5 percent, to 2,434.