CORRECTED-US STOCKS-Wall St up slightly on China stimulus, oil price rise

lunes 29 de febrero de 2016 16:19 GYT
 

(Corrects company name to Endo International PLC from Endo Pharmaceuticals and corrects stock symbol in 14th paragraph)

* China's central bank cuts reserve requirement ratio

* Brent crude rises about 2.5 pct

* Valeant drops as CEO returns, delays release of results

* Indexes up: Dow 0.05 pct, S&P 0.09 pct, Nasdaq 0.27 pct

By Abhiram Nandakumar

Feb 29 (Reuters) - Wall Street edged up on Monday morning as cautious investors assessed China's move to boost its slowing economy and higher 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.

"It's sort of like a sugar shock, a bump in near-term growth at the expense of longer-term credibility. I think investors are caught weighing the two," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.   Continuación...