US stocks end higher as oil shares gain

China’s economy is slowing, and investors and economists alike worry it might take down the US economy with it. Just two days ago China reported – if you believe official numbers – that its GDP slowed to 6.9 percent, the worst full-year growth rate in a quarter-century.

Edge Wealth Management maintained its position in shares of SPDR Dow Jones Industrial Average ETF (NYSE:DIA) during the fourth quarter, according to its most recent 13F filing with the SEC.

The S&P 500 lost 14 points (0.7 percent) to end at 1,867 after recovering from its lowest level, 1,812.22, since February 2014.

The volatile Shanghai Composite Index gained 3.2% Tuesday, bringing losses for the year down to 15%.

In economic news, the Consumer Price Index for all urban consumers declined 0.1 percent in December on a seasonally adjusted basis, the U.S. Labor Department said Wednesday.

The Nasdaq is down 535.72 points, or 10.7 percent.

The Dow is down 1,542.35 points, or 8.9 percent.

The S&P 500 is down 184.61 points, or 9 per cent.

At 3:37 p.m.in NY, the Dow Jones Industrial (INDEXDJX:.DJI) dropped 1% to 15,848.85, the S&P 500 (INDEXSP:.INX) slid 0.5% to 1,871.07, while (INDEXNASDAQ:.IXIC) rose 0.5% to 4,498.34.

After yesterday’s indecisive showing the markets have no doubt about today’s direction of travel: down, down, deeper and down.

CURRENCIES: The dollar declined to 116.20 yen from 117.46 in the previous trading session.

US government bond prices rose as traders shifted money into lower-risk investments.

Credit Agricole rose 5.2 percent after the company confirmed a report that it was looking at the possibility of selling stakes in over three dozen regional banks, saying it would bolster its capital and help finance dividends.

Among Dow stocks, Home Depot (NYSE:HD) led with a more than 3% gain as it retook its 200-day moving average. Gains faded in the afternoon before a late spurt of buying. US crude futures tumbled 6 percent to $26.76 a gallon.

Asian and European stock markets were also solidly lower overnight.

Brent crude for March delivery, the global oil benchmark, ended down 88 cents, or 3.1%, to $27.88 a barrel on London’s ICE Futures exchange.