US stocks end mixed amid oil rebound

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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.

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“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.



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