Bloomberg Most U.S. Stocks Gain as Market Erases Tumble in Final Hour

Feb. 12 (Bloomberg) -- Most U.S. stocks rose as speculation the White House will help struggling mortgage borrowers led a rebound in banks and better-than-estimated results at Coca-Cola Co. spurred gains in consumer shares.

The Standard & Poor’s 500 Index recovered from a 3.1 percent tumble in the final hour of trading, with banks in the gauge recouping most of an 11 percent slide. Coca-Cola, the largest soft-drink company, jumped 7.6 percent after higher European income and lower costs helped earnings top analysts’ estimates. The market’s earlier slide was spurred by a jump in jobless claims to a record and concern that Congress’s stimulus package will fail to revive the economy.

About ten stocks advanced for every nine that fell on the New York Stock Exchange. The S&P 500 added 0.2 percent to 835.19. The Dow slipped 6.77 points, or 0.1 percent, to 7,932.76, recovering most of a 245.55-point drop. more...