After an early-morning, commodities-driven selloff, North American stock market indexes regained considerable ground as they approached midday trading.
At noon, the Dow Jones industrial average was down 27 points, or 0.3 per cent, to 9793. It had been down more than 90 points earlier in the day. The broader S&P 500 was down 3 points, or 0.3 per cent, to 1065.
Despite the modest rebound, eight of the 10 subindexes in the S&P 500 were down and commodity producers remained the biggest laggards. Energy fell the most, dipping 1.1 per cent after the price of crude oil fell below $70 (U.S.) a barrel. Materials fell 0.8 per cent after the price of gold fell below $1000 an ounce (it rose above that threshold toward midday).
In other moves, financials fell 0.8 per cent, consumer discretionary stocks fell 0.5 per cent and consumer staples fell 0.3 per cent.
The winners? Health care stocks were on top, with a gain of 0.6 per cent. Information technology stocks rose 0.3 per cent.
In Canada, the S&P/TSX composite index was down 30 points, or 0.3 per cent, to 11,416.
The big winners were the same as in the S&P 500, with information technology stocks up 2 per cent and health care stocks up 0.8 per cent.
Financials fell 0.3 per cent. Commodity producers remained under water, but did not suffer the biggest declines among the 10 subindexes. Energy stocks were down just 0.2 per cent while materials were down 0.4 per cent.
Meanwhile, industrials and telecom services suffered the biggest setbacks, falling 0.9 per cent each. Consumer discretionary stocks fell 0.7 per cent.