US STOCKS-Wall St holds onto gains after China data

martes 19 de enero de 2016 12:28 GYT
 

* China's GDP matches estimates

* UnitedHealth jumps on strong results

* Tiffany slides after weak holiday sales

* Indexes up: Dow 0.64 pct, S&P 0.60 pct, Nasdaq 0.69 pct (Adds details, updates prices)

By Abhiram Nandakumar

Jan 19 (Reuters) - Wall Street rose on Tuesday morning, bouncing off a steep selloff on Friday and as investors were relieved that China's growth rate did not slow more than expected.

China's growth in 2015 was the slowest in 25 years, raising hopes of further stimulus measures from Beijing to rebalance a slowing economy that has rattled investors across markets.

Those fears have pushed oil prices below $30 per barrel and raised concerns about the prospects of U.S. companies, for whom China is a key market. The S&P 500 on Friday sank to its lowest since October 2014.

"It's just a matter of people doing a little bit of bargain hunting," said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin, Texas.   Continuación...