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The Latest: US stocks give up gains heading into the close

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A fund manager looks at screens displaying activities of shares on the French Stock Exchange, in a financial analysis office in Paris, France, Tuesday, …

NEW YORK (AP) -- The latest on the global financial market turmoil (all times local):


3:42 p.m.

U.S. stocks are giving up the gains shortly before the market close after a day in which they surged back on an interest-rate cut by China's central bank.

The Dow Jones industrial average was up three points, or 0.1 percent, at 15,886. The Standard & Poor's 500 index gained one point, or 0.1 percent, to 1,895. The Nasdaq composite rose 39 points, or 0.9 percent, to 4,565.


3:04 p.m.

The price of oil logged its biggest gain in more than two months, as it rebounded from its lowest closing level in more than six years.

The price of U.S. crude rose $1.07, or 2.8 percent, to $39.31, its biggest one-day gain since June 9. Brent crude, a benchmark for international oils used by many U.S. refineries, gained 52 cents, or 1.2 percent, to $43.21.

Natural gas and heating oil prices also rose, and wholesale gasoline dropped.


2:13 p.m.

U.S. stocks are paring their gains, after surging in early trading on news that China had cut interest rates to shore up its economy.

The Dow Jones industrial average rose 213 points, or 1.4 percent, to 16,088 as of 2: 18 p.m. Eastern time. It was up as much as 430 points earlier in the day.

The Standard & Poor's 500 index is up 27 points, or 1.5 percent, at 1,920 and the Nasdaq composite index gained 105 points, or 2.3 percent.

Metals have closed for the day;

Gold fell $15.30 to $1,138.30 an ounce. Silver dropped 15.2 cents to $14.61 an ounce...