Tuesday, 12 January 2016

US blue chips gain amid falls elsewhere

US blue chip stocks avoided another fall on Monday despite sharp falls in China and in oil.

The Dow Jones Industrial Average rose 0.3 percent and the S&P 500 edged up 0.1 percent.

However, the Nasdaq Composite Index fell 0.1 percent while the Russell 2000 declined 0.4 percent.

The STOXX Europe 600 fell 0.3 percent.

Worst hit on Monday was China, where the Shanghai Composite Index plunged 5.3 percent.

Some analysts are downplaying the impact of the turmoil in China's stock market.

“China’s stock market doesn’t have huge ramifications for most international investors,” said David Stubbs, global market strategist at JP Morgan Asset Management.

However, there is also oil. US crude oil also fell 5.3 percent on Monday to hit its lowest level since 2003.

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