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Category: Stocks

M & A Higher Oil Prices Fuel Wall Street's Rally

February 06, 2015 Posted by Chris Wysong

Caroline Valetkevitch of Reuters reports on the factors that contributed to climbing stocks and rebounding oil prices. MA, Higher Oil Prices Fuel Wall Streets Rally By: Caroline Valetkevitch (Reuters) U.S. stocks climbed on Thursday as energy shares bounced with oil prices, while news Pfizer would buy Hospira in a massive deal further boosted the market. The SP energy index .SPNY jumped 1.5 percent as oil prices rebounded sharply from a rout in the previous session. U.S. crude CLc1 rose 4.2 percent to settle at $50.48 following increased violence in producer Libya and on an expected boost in oil demand from Chinas central bank easing. Some euro zone concerns eased as well. Greece proposed a bridging program until the end of May to allow time for debt talks, vowing to do everything in its power to avoid default. On Wednesday, the European Central Bank abruptly said it would stop accepting Greek bonds in return for funds. The markets trying to get its hands around whats going on in

Posted in Oil, Stocks, Economy
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