US stocks end mixed amid oil rebound

New York, April 27 (IANS) US stocks closed mixed as investors digested gains in oil prices and the newly-released economic data.

The Dow Jones Industrial Average on Tuesday 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, Xinhua news agency reported.

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 on Tuesday as the declining US 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, or 0.8 percent, to $230.7 billion, missing market consensus of 1.6 percent, reported the US Labor Department on 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.

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 on Wednesday.



Related Posts

Leave a Reply