13 de octubre de 2015 / 15:36 / hace 2 años

US STOCKS-Wall St recovers but China concerns weigh

* Chinese imports fall 20 pct in September

* Molson Coors shares surge on SABMiller-AB Inbev deal

* Twitter up after upbeat forecast, layoffs

* Indexes up: Dow 0.13 pct, S&P 0.14 pct, Nasdaq 0.27 pct (Changes comment, updates prices)

By Abhiram Nandakumar

Oct 13 (Reuters) - Wall Street recovered from earlier losses in muted trading on Tuesday, helped by a rise in health care stocks, but gains were constrained by renewed fears of slowing growth in China.

Data showed Chinese imports fell 20 percent in September due to weak domestic demand, indicating that growth in the world’s second-largest economy was sputtering.

“(News from) overseas seems to be drawing most of the attention here and we’ll see what the U.S. does to counteract that,” said Paul Springmeyer, senior portfolio manager at the private client reserve at U.S. Bank in Minneapolis.

At 11:23 a.m. ET (1523 GMT), the Dow Jones industrial average was up 22.25 points, or 0.13 percent, at 17,154.11, the S&P 500 was up 2.85 points, or 0.14 percent, at 2,020.31 and the Nasdaq composite index was up 13.24 points, or 0.27 percent, at 4,851.88.

Six of the 10 major S&P sectors were up, with the health index leading the advancers. UnitedHealth provided the biggest boost to the index with a 2.4 percent increase.

Molson Coors rose 10.5 percent to $86.99 after SABMiller agreed to be bought by AB Inbev for about $106 billion. The deal is likely to result in the disposal of SAB’s 58 percent stake in its U.S. joint venture with Molson Coors.

Twitter rose 5.7 percent to $30.37 after the social media company said it expects third-quarter revenue to be at or above the high end of its forecast and that it was cutting 8 percent of its workforce.

JetBlue fell 7.1 percent to $24.99 after JPMorgan cut its rating on the stock to “neutral.”

Even as the market awaits the first rate hike since 2006, investor focus has shifted to corporate results.

JPMorgan and Intel report after the close on Tuesday, with Goldman Sachs, Bank of America, General Electric and others posting results through the week.

S&P 500 companies are expected to report a 4.8 percent fall in third-quarter profit, the biggest decline in six years, according to Thomson Reuters data.

Fed Governor Lael Brainard said on Monday the central bank should wait for clear signs that the U.S. economic recovery could weather global financial turbulence before raising interest rates.

Brainard’s comments were in contrast to that of other Fed policymakers, including Fed Vice Chair Stanley Fischer, who have said they could support a rate increase in December.

New York Fed President William Dudley is scheduled to speak later on Tuesday.

Advancing issues outnumbered decliners on the NYSE by 1,619 to 1,242. On the Nasdaq, 1,543 issues rose and 1,036 fell.

The S&P 500 index showed 10 new 52-week highs and four new lows, while the Nasdaq recorded 52 new highs and 24 new lows. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Saumyadeb Chakrabarty)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below