U.S. shares closed little changed after China’s move to stabilize its financial markets left investors to focus on the prospects for global growth amid renewed selling in crude oil and weaker-than-expected auto sales.
The Standard & Poor’s 500 Index rose 0.2 percent to 2,016.86 at 4 p.m. in New York, after wavering between gains and losses following the gauge’s 1.5 percent drop on Monday.
Stocks in China rose Tuesday in volatile trading, stabilizing after weaker factory data from the world’s second-largest economy sparked a worldwide selloff on Monday. State-backed funds were said to intervene after yesterday’s 7 percent plunge in the CSI 300 Index of large-capitalization companies listed in Shanghai and Shenzhen wiped out $590 billion of market value. European equities also climbed after a 2.5 percent rout on Monday.
Source : Bloomberg