US STOCKS rebounded in afternoon trading yesterday to end little changed as energy shares and Apple offset continued concerns about a slowdown in China.
The Dow Jones industrial average fell 0.33 points to 17,402.51, the S&P 500 gained 1.98 points, or 0.1 per cent, to 2,086.05 and the Nasdaq Composite added 7.60 points, or 0.15 per cent, to 5,044.39. The Dow moved nearly 300 points from its low of the day to its high.
Apple, for which China is a key market, also reversed course after falling more than three per cent earlier to its lowest since January. It ended up 1.5 per cent at $115.24.
Alibaba was down 5.1 per cent at $73.38 after hitting an all-time low of $71.03 after revenue growth slowed at the Chinese e-commerce company. Yahoo, which has a 15 per cent stake in Alibaba, fell 4.3 per cent to $34.49.
Macy’s fell 5.1 per cent to $64.11 after it also reported weak quarterly sales.