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US stocks follow oil higher, Dow up 200 points

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The stock markets in the US advanced in the early session as investors ignored the drop in the Chinese stocks and cheered the rise in oil prices.

    At the time of writing, the Dow Jones Industrial Average (DJIA) was up 214 points or 1.3%. The S&P 500 index was up 17 points or 0.90%. The Nasdaq index was underperforming; up 8 points or 0.20%.

    The DJIA oil and gas index was up 2.36%. Shares in Exxon Mobil and Procter&Gamble were up 3.2% and 2.45 respectively.

    The stock markets were boosted by volatile oil prices, which climbed back above USD 30/barrel. Investors ignored a big selloff in mainland China, where the Shanghai composite fell 6.4% to its lowest level since December 2014.
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