Concerns about the Chinese economy lingered but the markets closed mixed with the Dow slipping 11 points to 16,643 as the possibility of an interest rate increase faded. Nasdaq gained 15 points to 4,828.
On the upside
Moody's withdrew its B2-PD probability of default rating on Amira Nature Foods (NYSE: ANFI).
CNBC reported that Baxalta (NYSE: BXLT) offered to acquire Ariad Pharmaceuticals (Nasdaq: ARIA).
Shares of offshore drilling services contractor Transocean (NYSE: RIG) and Seadrill (NYSE: SDRL) both rose as crude oil prices climbed.
On the downside
Senomyx (Nasdaq: SNMX) announced the first sale of a concentrate using Sweetmyx S617 but the stock price fell.
Investors locked in profits on Vale (NYSE: VALE).
Profit taking weighed down shares of LookSmart (Nasdaq: LOOK).
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 added a point to 1,988. Bitcoin gained $6 to $231.
Mixed close after wild week
August 28, 2015 at 18:21 PM EDT