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U.S. stocks trade mixed after heavy selloff

Xinhua, January 12, 2016 Adjust font size:

U.S. stocks traded in a range in the morning session on Monday, as Wall Street struggled for gains from last week's sharp decline.

At midday, the Dow Jones Industrial Average rose 46.64 points, or 0.29 percent, to 16,393.09. The S&P 500 inched up 0.72 points, or 0.04 percent, to 1,922.75. The Nasdaq Composite Index shed 8.07 points, or 0.17 percent, to 4,635.56.

Last week, the three major indices posted steep losses, with the Dow, the S&P 500 and the Nasdaq plummeting 6.2 percent, 6.0 percent and 7.3 percent, respectively.

On Friday, U.S. stocks reversed early gains to end sharply lower, with the Nasdaq on a seven-session losing streak, as Wall Street digested a stronger-than-expected jobs report.

With no major economic data due out Monday, investors were still sifting through Friday's jobs report.

U.S. total nonfarm payroll employment rose by 292,000 in December, well above market estimates of 200,000, and unemployment rate was unchanged at 5.0 percent.

Meanwhile, investors also kept an eye on oil prices, which continued to fall on Monday, trading at almost 12-year lows. Endit