(MarketWatch) — In a late-session turnaround, the U.S. stock market erased losses to end marginally higher Monday, with the technology sector posting the biggest gains as investors considered corporate-earnings reports.
The S&P 500 index SPX +0.04% gained less than a point to finish at 1,433.81, edging into positive territory at the very end of the session.
The S&P 500 had hit an intraday low of 1,422.06.
Information technology was the top gainer among its 10 industry groups after getting nailed in recent weeks by disappointing reports from heavy hitters including Google Inc. GOOG -0.46% and Nokia Corp. NOK +2.55% . Telecommunications, energy and consumer discretionary were among the sectors that posted declines for the session.
After falling 108 points, the Dow Jones Industrial Average DJIA +0.02% turned higher in the last few minutes of trade to finish up 2.38 points at 13,345.89.
Hewlett-Packard Co. HPQ +1.59% , UnitedHealth Group Inc. UNH +1.58% and Caterpillar Inc. CAT +1.45% were among the top gainers in the Dow.
Caterpillar shares rose 1.5% after the Dow component and maker of mining and construction equipment reported quarterly earnings above estimates but came in light on revenue while lowering its outlook for the year.