US markets start 2019 on muted note

US markets start 2019 on muted note

US shares rebounded from steep early losses on Wednesday, lifted in part by energy companies. The three leading market indexes opened down more than 1%, following reports of weaker than expected manufacturing activity in China.

But the indexes later rallied. The Dow Jones and S&P 500 closed up about 0.1%, while the Nasdaq gained about 0.5%. European markets followed a similar path. In London, the FTSE 100 closed up about 0.1%.

ExxonMobil and Chevron were some of the day's top gainers on the Dow, following reports suggesting Saudi Arabia was taking steps to cut oil supply.

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