US stocks begin the week on a positive note

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The stock markets in the US rose on the first trading day of the week, following a oil-driven gains in Asian and European stock markets.

    At the time of writing, Dow Jones Industrial Average (DJIA) was up 205 points or 1.2%. The S&P 500 index was up 24 points or 1.2%. The tech index Nasdaq advanced 1.2%.

    DJIA oil and gas index was up 1.9%, tracking 5% rise in the oil prices at both the sides of the Atlantic. Meanwhile, shares in Caterpillar and Chevron were up 2.8% and 2.3% respectively. Cisco shares were down 0.20%.

    Oil strengthened after the International Energy Agency forecast it expects US shale production to fall this year and next. The oil rally triggered a flight to risk assets, courtesy of which all major regional equity indices strengthened more than 1%.
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