U.S. stocks rose today on the back of rising oil prices and healthy corporate earnings. Senate republicans' recent failure to replace the Affordable Care Act also seemed to have little effect on stock prices. The Industrials gained 66 points to close at 21,641 while the S&P 500 rose 0.54% and the Nasdaq climbed 0.64%.
In overseas markets the trend was positive, both in Europe and Asia. All major indexes in Asia closed in the green, with the Asia Dow rising 0.30%. China's Shanghai Composite was the big winner, up 1.36%. Over in Europe all major indexes were also in the green, causing the STOXX 600 to edge up 0.77%.
A rise in crude oil helped paint a positive backdrop for stocks; light crude rose 1.6% after a U.S. government report showed a sharp drawdown in oil and fuel stockpiles. Energy was the best performing sector of the S&P 500 today, up 1.4%.
The dollar rose modestly, its index up ... Log in or subscribe to continue reading.
