US STOCKS-Wall St mixed as investors assess China move, oil up

lunes 29 de febrero de 2016 11:03 GYT
 

* China's central bank cuts reserve requirement ratio

* Crude prices rise more than 1 pct

* Valeant drops as CEO returns, delays release of results

* Dow down 0.13 pct, S&P down 0.14 pct, Nasdaq up 0.03 pct (Updates to open)

By Abhiram Nandakumar

Feb 29 (Reuters) - Wall Street was little changed on Monday as cautious investors assessed China's move to boost its slowing economy and an increase in oil prices raised hopes that the market had bottomed out.

China's central bank on Monday cut its reserve requirement ratio, or the amount of cash that banks must hold as reserves, for the fifth time in a year.

Crude prices rose more than 1 percent after Saudi Arabia said it would work with other producers to limit oil market volatility. Shares of Chevron and Exxon were up about half a percent.

"Investors are stepping back to try and assess where global growth is going to be ... as well as monetary policies going forward," said Chad Morganlander, portfolio manager at Stifel, Nicolaus & Co in Florham Park, New Jersey.   Continuación...