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U.S. stocks waver narrowly amid economic data

Xinhua, April 4, 2017 Adjust font size:

U.S. stocks fluctuated in a tight range in the morning session Tuesday as investors pondered over the newly-released economic data.

Around midday, the Dow Jones Industrial Average rose 33.42 points, or 0.16 percent, to 20,683.63. The S&P 500 fell 1.93 points, or 0.08 percent, to 2,356.91. The Nasdaq Composite Index decreased 2.14 points, or 0.04 percent, to 5,892.54.

The U.S. Department of Commerce announced Tuesday that the goods and services deficit decreased by 4.6 billion U.S. dollars from 48.2 billion dollars in January to 43.6 billion dollars in February, below market consensus of 44.5 billion dollars.

In a separate report, the department said that U.S. new orders for manufactured goods in February, up seven of the last eight months, increased 4.8 billion dollars or 1.0 percent to 476.5 billion dollars, in line with market estimates.

Meanwhile, traders kept a close eye on the minutes from the Federal Reserve's latest meeting scheduled on Wednesday afternoon for more clues on the pattern of rate hikes.

U.S. stocks ended lower on Monday, the first trading day of the month and the start of the second quarter, as Wall Street digested a batch of economic reports. Enditem