World stock markets turned in a strong performance today, starting with modest gains in Asia. European markets carried the move forward, with London up 0.9% and Germany up over 2%.
Then US markets opened, and trended higher throughout the session, closing on their highs. The Dow Industrials were up over 300 points, with the S&P up 2.4% and NASDAQ up nearly 3%.
The source of today's euphoria? A more tangible sense that world oil producers will actually reign in supply, based on comments out of Russia and a number of other big producing countries. Crude oil finished well over $34/bbl., leading oil company shares to one of their best days all year.
On top of that, US investors were encouraged by a report from the Institute for Supply Management that American manufacturers were doing worse, but at a slower rate than before. And this passes for good news? Well it does - when ... Log in or subscribe to continue reading.