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U.S. stocks attempt rebound

U.S. stocks were attempting a modest rebound on Wednesday, boosted by technology shares and an Amazon-led jump in retailers, following four sessions of steep losses that pushed the S&P 500 and Dow Industrials near bear market territory. After a strong start, the S&P and Dow swung between gains and losses. At its session low, the S&P hit a fresh 20-month low and came within two points of entering bear market territory, measured by a drop of more than 20 percent from a closing high. The gains were led by…

‘Death cross’ portends more near-term losses for U.S. stocks, then rebound

NEW YORK: More losses may be ahead for U.S. stocks in the short term, according to an indicator with a fittingly ominous name: the death cross. A chart pattern tracked by technical analysts and other market mavens, a death cross forms when an index’s near-term moving average of daily closing prices falls below its long-term moving average as both averages are declining. The 50- and 200-day moving averages are commonly used. On Friday, the S&P 500 Index .SPX, the U.S. benchmark for large stocks, joined the main…

Oil prices rebound after falling below $30

SINGAPORE: Oil prices rebounded in Asia Wednesday, halting a plunge that saw fall below $30 a barrel for the first time in more than 12 years but analysts warned of further pressure on the commodity.