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US: Stocks rebound in choppy session

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[NEW YORK] US stocks rebounded in final-hour trade Monday as investors awaited the start of earnings season and oil prices fell below US$32 for the first time in 12 years.

The Dow Jones Industrial Average rose 52.12 points, or 0.32 per cent, to 16,398.57 and the broad-market S&P 500 index advanced a scant 1.64 (0.09 per cent) to 1,923.67.

Despite the late jump, the tech-rich Nasdaq Composite failed to hang on, losing 5.64 (0.12 per cent) at 4,637.99.

Stocks spent most of the session in selling mode, extending losses from the prior week's rough start to the new year.

"Falling oil prices in the face of global growth concerns continued to weigh on the overall sentiment, short-circuiting a rebound attempt," Briefing.com analysts said in a note to clients.

AFP

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