US stocks end mixed amid oil rebound, data

GMT 23:22 2016 Tuesday ,26 April

Arab Today, arab today US stocks end mixed amid oil rebound, data

US stocks
New York - XINHUA

US stocks closed mixed Tuesday, as investors digested gains in oil prices and the newly-released economic data.

The Dow Jones Industrial Average edged up 13.08 points, or 0.07 percent, to 17,990.32. The S&P 500 rose 3.91 points, or 0.19 percent, to 2,091.70. The Nasdaq Composite Index fell 7.48 points, or 0.15 percent, to 4,888.31, for its four-day losing streak.

Oil prices increased Tuesday as the declining U.S. dollar made the dollar-priced crude less expensive and more attractive for buyers holding other currencies.

On the economic front, new orders for manufactured durable goods in March increased 1.8 billion dollars, or 0.8 percent, to 230.7 billion dollars, missing market consensus of 1.6 percent, reported the U.S. Labor Department Tuesday.

"Durable orders rose, but not as much as expected. Weak corporate profits appear an ongoing drag on equipment spending," said Chris Low, chief economist at FTN Financial, in a note.

The S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, showed that the 10-City Composite gained 4.61 percent year over year in February, while the 20-City Composite added 5.39 percent.

Meanwhile, investors kept a close eye on the Federal Reserve's policy meeting. The Federal Open Market Committee, the Fed's policy-making arm, will announce its latest rate decision when it concludes a two-day meeting Wednesday.

The U.S. central bank is widely expected to leave interest rates unchanged after a mixed bag of economic data and recent volatility in financial markets.

Investors will look into the statement for indications on the potential for a hike at the June FOMC meeting.

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