Turbulent day of trading
NEW YORK (AP) – U.S. stocks struggled through a turbulent day of trading Tuesday and eked out small gains, led by utility and consumer stocks. The price of crude oil continued to fall, and energy and mining stocks tumbled.
Stocks in Asia and Europe had rallied earlier in the day as investors were satisfied with China’s fourth-quarter economic growth. The Dow Jones industrial average rose as much as 183 points in the first minutes of trading Tuesday. The gains faded in the afternoon before a late spurt of buying in the last half hour sent indexes mostly higher.
The Dow Jones industrial average rose 27.94 points, or 0.2 percent, to 16,016.02. The Standard & Poor’s 500 index rose one point to 1,881.33. The Nasdaq composite index fell 11.47 points, or 0.3 percent, to 4,476.95. Major indexes had plunged Friday, and the Dow and S&P 500 are coming off their worst opening weeks of a year in history.