Dow ends choppy day slightly lower, Nasdaq gains

GMT 20:23 2015 Friday ,28 August

Arab Today, arab today Dow ends choppy day slightly lower, Nasdaq gains

Wall Street
New York - Arab Today

US stocks ended a rocky week on a muted note Friday, with the Dow dipping and Nasdaq advancing as fears about a global economic slowdown due to China tested sentiment.

The Dow Jones Industrial Average shed 11.76 points (0.07 percent) at 16,643.01.

The broad-based S&P 500 added 1.21 (0.06 percent) at 1,988.87, while the tech-rich Nasdaq Composite Index gained 15.62 (0.32 percent) at 4,828.32.

"We certainly arrested the selling that we saw at the end of last week and the beginning of this week," said Mace Blicksilver, director at Marblehead Asset Management.

"There is a lot of concern about slowing growth, and we still don't know what the Fed is going to do," he said, referring to the Federal Reserve's plan to raise interest rates this year.

Moody's slashed its 2016 growth forecast for the Group of 20 economies to 2.8 percent from 3.1 percent due to the hit from a slowing Chinese economy.

US Federal Reserve Vice Chair Stanley Fischer told CNBC it was "too early to tell" whether the markets turmoil sparked by China has lessened the argument for a long-expected increase in the federal funds rate.

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