Wall Street edges up as investors eye key support levels

The broader Topix slid 0.49 percent, with oil and gas the worst-performing sector index in the morning.

"China does not provoke a trade war, and doesn't want to fight a trade war, but we also aren't afraid of a trade war", Chinese Foreign Ministry spokesman Geng Shuang told a news briefing. Humana gained 4.4 percent while Walmart slid 3.8 percent. The Russell 2000 index of smaller-company stocks fell 43 points, or 2.8 percent, to 1,486.

Japan's Nikkei ended down 0.45 percent, after initially falling as much as 1.6 percent. Hong Kong's Hang Seng lost 0.9 percent to 29,828.46. On the mainland, the Shanghai composite slipped 0.78 percent and the Shenzhen composite eased 0.86 percent. The S&P 500 has now "tested" and "retested" its "key support level"-which, in layman's terms, means that twice in the past 10 days it has tried and failed to get and stay below the 200-day average". Gold producers climbed as gold prices held onto overnight gains.

The other major USA stock indexes also staged rebounds after Monday's rout.

The Dow Jones industrial average fell as much as 758 points, although major indexes regained some of their losses later in the afternoon.

In 1.49pm trading in NY, the Dow Jones Industrial Average rose 0.7 percent, while the Nasdaq Composite Index gained 0.2 percent.

The Nasdaq Composite .IXIC was down 167.98 points, or 2.38 percent, at 6,895.47.

Shares of US tech giants, including Facebook, Netflix and Google parent Alphabet, all declined overnight in the first trading session of the month, having first sold off in March.

1 death, 45 hospitalization due to Synthetic Weed in IL
Per the IDPH, synthetic cannabinoids are human-made, mind-altering chemicals that are sprayed on to dried plant material. They are sold for recreational drug use with claims they will provide the user the effects of cannabis.

Meanwhile Amazon, which isn't officially classified as a technology company, has come under fire from President Donald Trump, who has griped about the company's tax payments, deals with the U.S. Postal Service, and other issues.

China announced a 15-percent tax on more than 120 US imports, including pork, fruit and nuts, as a response to Trump's tariffs of 25 percent and 10 percent on Chinese steel and aluminum, respectively. Beijing said in March that those products had an import value of $3 billion in 2017. He then proceeded to exempt most major US trading partners from the levies, leaving the bulk of the measures aimed squarely at Beijing.

"The question about trade policy is whether it affects second-quarter, third-quarter, fourth-quarter [earnings]".

But analysts said the retreat provided an incentive for investors to return to the market. Santos stock was up 18.74 percent.

Amazon fell another $70.84, or 4.9 percent, to $1,376.50. Reuters reported that the company said on Monday it meant to sell shares in its SK Lubricants unit as part of a planned initial public offering.

The dollar edged down to 105.87 yen from Monday's 105.89 yen as currency traders shifted money into the Japanese currency, seen as a haven in times of market turmoil.

The Reserve Bank of Australia is due to announce its interest rates decision, with most expecting the central bank to hold the cash rate steady.

Related Articles