US close: Stocks mixed on China woes, oil price slump
US stocks were mixed on Tuesday as oil prices slid and the People's Bank of China tried to soothe concerns on the slowdown in the world's second largest economy.
The Dow closed up 0.06% while the Nasdaq fell 0.25% and the S&P 500 rose 0.22%.
Oil prices were in the red on worries about an oversupply in the market. West Texas Intermediate crude fell 2.5% to $35.86 per barrel and Brent dropped 2.3% to $36.36 per barrel at 0936 GMT.
Investors also continued to weigh tensions between Iran and Saudi Arabia and the effect it might have on oil.
Meanwhile, the PBoC tried to calm nerves as it injected 130bn yuan (£13.6bn) into the financial system via reverse repurchase agreements and fixed the yuan stronger to the dollar in reaction to the currency hitting four-and-a-half month lows. "
The PBoC’s offer of 130bn yuan (almost $20bn) of reverse repurchase agreements appears to have eased liquidity concerns in
Chinese money markets and offered some layer of comfort for equity investors," said Jasper Lawler at CMC Markets.
"With rising capital outflows thanks to the weakening currency, tight liquidity has forced the PBOC to offer alternative funding."
Elsewhere in the nation, the China Securities Regulatory Commission said on Tuesday that shareholders should not sell shares when the six-month ban expires on Friday.
Furthermore, several large Chinese companies said their major shareholders and senior executives would voluntarily extend a ban on sales of shares in the secondary market, Reuters reported.
Among corporate stocks, oil producers tumbled including Ensco, Transocean and Diamond Offshore Drilling.
Gun shares advanced, including Smith & Wesson and Sturm, Ruger & Bo., amid speculation that new restrictions announced by President Barack Obama would boost sales.
Apple was on the back foot on fears about slowing demand for the iPhone and weakness in China.
The dollar rose 0.29% against the pound, increased 0.73% against the euro and fell 0.34% against the yen.
S&P 500 - Risers
First Solar Inc. (FSLR) $72.03 +7.96%
FLIR Systems Inc. (FLIR) $30.31 +5.43%
Macerich Co (MAC) $82.50 +3.85%
NRG Energy Inc. (NRG) $11.97 +3.82%
Micron Technology Inc. (MU) $14.82 +3.42%
Macy's Inc. (M) $36.96 +3.27%
Kimco Realty Corp. (KIM) $26.56 +3.15%
Harman International Industries Inc. (HAR) $96.00 +3.10%
Reynolds American Inc. (RAI) $46.57 +3.03%
Gap Inc. (GPS) $26.28 +3.02%
S&P 500 - Fallers
Ensco Plc. (ESV) $14.89 -6.29%
Qorvo, Inc. (QRVO) $47.53 -6.29%
Skyworks Solutions Inc. (SWKS) $73.29 -5.95%
Rowan Companies plc (RDC) $16.19 -5.27%
Diamond Offshore Drilling Inc. (DO) $20.80 -4.81%
Owens-Illinois Inc. (OI) $16.28 -4.57%
Alcoa Inc. (AA) $9.27 -4.53%
Genworth Financial Inc. (GNW) $3.64 -4.21%
Quanta Services Inc. (PWR) $19.46 -4.19%
Goodyear Tire & Rubber Co. (GT) $30.70 -4.09%
Dow Jones I.A - Risers
Wal-Mart Stores Inc. (WMT) $62.92 +2.38%
E.I. du Pont de Nemours and Co. (DD) $64.28 +1.92%
Nike Inc. (NKE) $62.38 +1.40%
McDonald's Corp. (MCD) $119.20 +1.38%
Verizon Communications Inc. (VZ) $46.50 +1.37%
Merck & Co. Inc. (MRK) $53.15 +1.28%
Chevron Corp. (CVX) $89.61 +0.86%
Exxon Mobil Corp. (XOM) $78.12 +0.85%
Visa Inc. (V) $76.27 +0.75%
Pfizer Inc. (PFE) $32.18 +0.72%
Dow Jones I.A - Fallers
Apple Inc. (AAPL) $102.71 -2.51%
Walt Disney Co. (DIS) $100.90 -2.02%
Goldman Sachs Group Inc. (GS) $174.09 -1.72%
American Express Co. (AXP) $66.55 -1.54%
Caterpillar Inc. (CAT) $67.28 -1.04%
Home Depot Inc. (HD) $130.43 -0.49%
Intel Corp. (INTC) $33.83 -0.47%
Cisco Systems Inc. (CSCO) $26.29 -0.45%
International Business Machines Corp. (IBM) $135.85 -0.07%
Nasdaq 100 - Risers
Vimpelcom Ltd Ads (VIP) $3.41 +3.96%
Micron Technology Inc. (MU) $14.82 +3.42%
CH Robinson Worldwide Inc (CHRW) $63.47 +2.72%
Yahoo! Inc. (YHOO) $32.20 +2.55%
Stericycle Inc. (SRCL) $120.53 +2.26%
Staples Inc. (SPLS) $9.70 +1.89%
Wynn Resorts Ltd. (WYNN) $70.07 +1.89%
Baidu Inc. (BIDU) $187.36 +1.81%
Intuit Inc. (INTU) $95.95 +1.66%
Nvidia Corp. (NVDA) $32.89 +1.61%
Nasdaq 100 - Fallers
Skyworks Solutions Inc. (SWKS) $73.29 -5.95%
Avago Technologies Ltd. (AVGO) $137.52 -3.35%
Priceline Group Inc (PCLN) $1,210.69 -2.78%
Walgreens Boots Alliance, Inc. (WBA) $80.87 -2.62%
Apple Inc. (AAPL) $102.71 -2.51%
Nxp Semiconductors Nv (NXPI) $82.39 -2.43%
NetApp Inc. (NTAP) $25.40 -2.38%
Netflix Inc. (NFLX) $107.66 -2.09%
Liberty Interactive Corporation - Series A Liberty Ventures (LVNTA) $42.45 -2.08%
QUALCOMM Inc. (QCOM) $49.14 -1.96%