Better performing housing sector . We well, it really feels like a santa claus rally is getting under way. Stocks are up for a third day. As we stand, lets take a look at the numbers. The dow is currently sitting at 17,559. It is not break even get for the year but it is up. The s p 500 is one point in the green for the year. Its crossed over that break even line so many times. Were rich, were rich, were rich. I never thought santa was going to come, and i still believe in santa. Oil soaring. New data showing a big drop in inventories. Crude up more than 4 , about 3. 9 for west texas. Highest levels in more than a week. Gasoline up 5 tracking for its biggest oneday gain since last november. Well, as for chipotle, those shares are edging higher this hour by 0. 2 , but the embattled mexican fast food chain has been taking drastic steps as the restaurants try to contain the e. Coli crisis. Morgan brennan has more details on this. What are they doing . On the heels of the outbreak that sic
And a recovery in oil prices. In fact, stocks tied to commodities rallied across the globe, and todays rally puts the s p 500 back in the green by a smidge for the year. One marketwatcher said he thinks this is the longawaited, somewhat traditional santa claus rally and that stocks were due for a bounce. By the close, the Dow Jones Industrial average rose 185 points to 17,602. The nasdaq added 44, and the s p gained 25. Oil prices recovered, ending sharply higher after an unexpected decline in crude inventories in the u. S. Opec also issued an outlook for prices, saying they were set to rise, though slowly. Domestic crude settled nearly 4 higher at 37. 50. The gains werent limited to the energy sector. Mining stocks also rallied, this on a report that china will cut its steel surplus, something thats kept prices at a decade low. If the country cuts back on production, analysts say chinas steel glut may begin to moderate in the new year. That supported a number of wellknown mining stock
And a recovery in oil prices. In fact, stocks tied to commodities rallied across the globe, and todays rally puts the s p 500 back in the green by a smidge for the year. One marketwatcher said he thinks this is the longawaited, somewhat traditional santa claus rally and that stocks were due for a bounce. By the close, the Dow Jones Industrial average rose 185 points to 17,602. The nasdaq added 44, and the s p gained 25. Oil prices recovered, ending sharply higher after an unexpected decline in crude inventories in the u. S. Opec also issued an outlook for prices, saying they were set to rise, though slowly. Domestic crude settled nearly 4 higher at 37. 50. The gains werent limited to the energy sector. Mining stocks also rallied, this on a report that china will cut its steel surplus, something thats kept prices at a decade low. If the country cuts back on production, analysts say chinas steel glut may begin to moderate in the new year. That supported a number of wellknown mining stock
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