Stocks were in rally mode today, as investors shied away from safe haven assets and moved back into riskier areas of the market. Financial, consumer and technology stocks led the way higher.
Gains in the U.S. came on the heels of minor losses in Europe. Most indexes in the Asia-Pacific were in the green, with China's Shanghai Composite rising over 3%.
Saudi Arabia, Russia, Qatar and Venezuela agreed to a possible production freeze at January levels, but this had little positive impact on the price of oil as investors remain skeptical that other countries will agree to follow suit. Freezing production at current levels would also do little to shift the supply-demand imbalance.
The Dow Industrials ended the day up 1.4% and above the 16,000 mark. The Transports and Nasdaq both rose 2.3% while the S&P 500 was up 1.65%. Gold fell by nearly $40/oz. back down to the 1200 area. Light Crude ... Log in or subscribe to continue reading.