published Mar 22nd 2017, 3:39 pm, by Oliver Renick

(Bloomberg) —
U.S. shares inched forward for the first time in four days as a rally in technology stocks offset losses in phone companies and banks.

The S&P 500 added 0.2 percent to 2,348 at 4 p.m. in New York and the Dow Jones Industrial Average lost 7 points to 20,661.30. The S&P 500 sank more than 1 percent Tuesday for the first time since Oct. 11.

Telecom shares fell 1% for a third straight loss this week; Frontier Communications dropped 10.6% and CenturyLink fell 2.4% Financial companies weaker for sixth time in seven sessions; lost 0.2%10-year Treasury yield down 4 basis points, extending a four-day bond rally North Sea Brent crude oil fell after industry data showed U.S. stockpiles expanded last week Stocks in Europe and Asia declined on an unwinding of reflation trades amid uncertainty over prospects for the U.S. president’s policies Volume across U.S. exchanges fell 18% from yesterday VIX up for fourth session to 12.8

ECONOMY: MBA mortgage applications index fell 2.7% in week ended March 17 Sales of previously owned U.S. homes declined in February after rising a month earlier to the highest level in a decade

EARNINGS:Thursday: Adeptus Health (ADPT), Micron (MU), GameStop (GME) Stoxx Europe 600 Index declined 0.4% for third straight loss as 17 of 19 groups in the index fell Terror attack in London hours before European market close left four dead near Parliament

For more equity market news: Health-Care Providers in Trader Sights Before Obamacare Vote Fed Looks Past Trump Stocks Rally, Sees Same Old Tired Expansion Valuation Agitation Evident in U.S. Stock Investor Survey: Chart S&P 500 to Dip 6%-8%, Then Hit 2600; UST 10Y Bull Trend Over: BNP Gartman Goes Short on Stocks for First Time in ‘Very Long While’

To contact the reporter on this story: Oliver Renick in New York at orenick2@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Scott Schnipper

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