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Economic Momentum and Virtuous Cycles

Daily Recap

Stocks plowed higher again today on the back of rising energy companies, which followed the price of crude oil higher. A recovery in commodities is suggesting a pickup in growth across most of the world. Light crude ended the day up $1.71 per barrel (or 3.07%) to close at $57.35 – the highest close in quite some time.

 

This led the energy sector of the market to rise by 2.29%, setting the stage for further gains. In turn, the Industrials added 9 points, the Nasdaq rose 0.33% and the S&P 500 climbed 0.13%. The Transports and Utilities both lost ground today, but were only down 0.24% and 0.55%, respectively.

 

Outside of the U.S., share prices were mixed, as both Europe and Asia moved quietly lower. Fractional losses across most European exchanges resulted in the Europe Dow declining by 0.16%, though the Stoxx 600 still managed to post a 0.13% gain. In Asia, mixed markets ... Log in or subscribe to continue reading.


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