US Close 20 Jan 16: US recovered - oil hit new 12yr low. IMF slight cut to 2016 expectations

2016-01-20

US sharemarkets were volatile over Tuesday's session. Traders absorbed economic data and earnings results from Morgan Stanley and Bank of America. The Dow Jones was up 183 points in morning trade and was down 88 points in afternoon trade. The Dow Jones closed higher by 28 points or 0.2%. The S&P 500 was up by 0.1% while the Nasdaq lost 11.5 points or 0.3%.The Chinese economy grew at a 6.8% annual rate in the December quarter, near forecasts of 6.8%.

US sharemarkets were volatile over Tuesday's session. Traders absorbed economic data and earnings results from Morgan Stanley and Bank of America. The Dow Jones was up 183 points in morning trade and was down 88 points in afternoon trade. The Dow Jones closed higher by 28 points or 0.2%. The S&P 500 was up by 0.1% while the Nasdaq lost 11.5 points or 0.3%.

The Chinese economy grew at a 6.8% annual rate in the December quarter, near forecasts of 6.8%.

* The International Monetary Fund expects the global economy to grow by 3.4% in 2016, up from 3.1% in 2015 but down from the 3.6% forecast made in October. Growth of 3.6% is expected in 2017.

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