Stocks rally for 2nd day: Dow surges 305 points oil jumps 7%

0
24

29906170001_4028537978001_020215americasmarkets-vs

By Adam Shell

The January blues on Wall Street have given way to green arrows and gains in February for a second straight session as Wall Street reacts to firming oil prices, less gloomy news related to Greece and another global central bank cutting interest rates.

The Dow Jones industrial average surged 305.36 points, or 1.8%, to close at 17,666.40. The Standard & Poor’s 500 index gained 29.18 points, or 1.4%, to 2050.03. The Nasdaq composite rose 51.05 points, or 1.1%, to 4727.74.

Oil on the U.S. market surged as much as 7%, to close at $53.05 a barrel in New York. After a seven-month drop of more than 50%, speculation is rife that oil prices might have found a bottom as producers cancel projects and more drilling rigs stand idle.

“Read the Full Article at www.usatoday.com >>>>”

 

Comments Closed