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Roundup: U.S. stocks mixed after two-day rally

Xinhua, August 29, 2015 Adjust font size:

U.S. stocks ended mixed on Friday, after two-day market rally, as global financial volatility continued to weigh on investors' sentiment.

The Dow lost 11.76 points, or 0.07 percent, to 16,643.01. The S&P 500 increased 1.21 points, or 0.06 percent, to 1,988.87. The Nasdaq Composite Index rose 15.62 points, or 0.32 percent, to 4,828.33.

Chinese stocks recovered more than 10 percent in two days after a five-day losing streak that wiped out a fifth of the market value.

The benchmark Shanghai Composite Index climbed 4.82 percent to close at 3,232.35 points on Friday, following a 5.34-percent rebound the previous day.

On the economic front, U.S. personal income in July increased 0.4 percent, and disposable personal income rose 0.5 percent, according to the U.S. Commerce Department Friday.

The same month has also seen the personal consumption expenditures of the world's largest economy increase 0.3 percent after an upwardly revised 0.3 percent rise in June.

Meanwhile, the final reading of Thomson Reuters/University of Michigan's consumer sentiment index came in at 91.9 for August, well below market estimates.

Some analysts said recent data points to a possible interest rate hike this year.

The U.S. Commerce Department on Thursday revised its estimate for the real gross domestic product (GDP) in the second quarter to a growth of 3.7 percent, which is much higher than the 0.6-percent growth in the first quarter and has triggered a jump in U.S. stocks that day.

In other markets, the U.S. dollar climbed against most major currencies on Friday as the country's overall strong economic data pointed to a possible interest-rate hike later this year.

In late New York trading, the euro fell to 1.1179 dollars from 1.1257 dollars in the previous session, while the dollar bought 121.33 Japanese yen, higher than 120.68 yen of the previous session.

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as a report showed steady U.S. inflation.

The most active gold contract for December delivery gained 11.4 U.S. dollars, or 1.02 percent, to settle at 1,134 dollars per ounce. Endite