US STOCKS-Wall St dips on weak China data but off day's lows

jueves 13 de octubre de 2016 15:34 GYT

* Chinese exports drop 10 pct in September -report

* Oil prices rebound, help energy shares

* Indexes down: Dow 0.1 pct, S&P 0.1 pct, Nasdaq 0.3 pct (Updates to late afternoon)

By Caroline Valetkevitch

Oct 13 (Reuters) - U.S. stocks were down slightly following weak Chinese economic data, but indexes recovered in afternoon trading along with oil prices.

Data showed China's exports fell 10 percent in September, far worse than markets had expected, while imports unexpectedly shrank, reviving concerns about the health of the world's second-largest economy.

Energy shares pared losses as oil prices ended higher. A U.S. government report of larger-than-expected draws in diesel and gasoline helped prices rebound.

"The catalyst, I think, to start getting some trades in was the oil price stabilizing, and just the fact that short-term we were oversold," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

The Fed on Wednesday released the minutes of its last rate-setting meeting that showed several policymakers felt a move was warranted "relatively soon" if the U.S. economy continued to strengthen.   Continuación...