Oil Continues Down, Stocks Soar On FOMC Minutes

By Markets FOXBusiness

While crude oil continued its downward slide on EIA Inventories, stocks which had been bouncing back and forth earlier got a major boost after the FOMC Minutes showed the Fed could be more cautious in raising rates on continuing economic weakness concerns.

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Market Radar - % Change

Crude oil prices continued to dip hitting the lowest point since April 18, 2013 settling at $87.31 per barrel down $1.54 or 1.73%. Gold also saw lower prices today settling down $6.4 at $1,206 per ounce down 0.53%.

The major benchmarks all made significant gains with the Dow Jones Industrial Average seeing its biggest jump since Dec. 18, 2013 climbing 1.64% to close at 16,994.22 up 274.83 points. The S&P 500 jumped 1.75% gaining 33.79 points to close at 1,968.89.

The NASDAQ Composite gained 1.9% on the day to close at 4,468.59 up 83.39 points while the NASDAQ 100 was up over 2% on the day closing at 4,041.12 up 82.53 points.

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The Small cap Russell 2000 closed at 1,097.12 gaining 20.81 points or 1.93% while the Fox50 gained 1.76% to close at 1,404.61 up 24.24 points.

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