Market Rally Continues as Oil Stablizes

By Michael Goldstein Markets FOXBusiness

U.S. stocks soared for the second day turning the major averages positive for 2015 as oil seemingly found support after a second day of gains.  While initial jobless claims of 294 thousand was slightly above economist expectations, it remained below the 300 thousand mark while Wednesday’s Fed comments indicating a patient approach to interest rate hikes continued to buoy the markets.

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Market Radar - % Change

Nymex crude was up for the second consecutive session settling at $48.79 per barrel up 0.29% or $0.14.  Gold prices were down slightly losing $2.20 to settle at $1,208.50 per ounce down 0.18%.

The Dow Jones Industrial average climbed for the second consecutive session surging 323.35 points to close at 17,907.87 up 1.84%.  The S&P 500 also saw significant gains climbing 1.79% or 36.24 points to close at 2,062.14.

The NASDAQ Composite rose 85.72 points to close at 4,736.19 up 1.84% while the tech heavy NASDAQ 100 gained 80.55 points or 1.84% to close at 4,240.55.

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The Small cap Russell 2000 climbed 1.71% to 1,196.14 up 20.16 points while the FOX50 closed the day at 1,444.23 gaining 28.11 points or 1.99%

 

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