It was another record-setting day on Wall Street, with multiple major indexes posting new all-time highs. The gains came on the back of strength in the commodities sector, particularly oil.
Crude oil rose 3% today, taking out the $45 mark and reaching its highest level in a month on hopes of a possible production cap. Last week the Saudis signaled that they were open to measures to stabilize the market. Today Russia announced that they're in discussions with Saudi Arabia to achieve some type of oil price stability. The two countries are the largest oil producers in the world.
In equity markets the Industrials rose 60 points, with the Transports doubling that gain on a percentage basis. The S&P 500 rose 0.3% while the Nasdaq climbed 0.6%. The dollar declined, as did bonds, bringing the yield on the 10-year Treasury to 1.56%.
Gold rose modestly, up $4/oz. as did silver, which was up 14 ... Log in or subscribe to continue reading.