Obama Officially Rejects Keystone XL Pipeline Proposal

FOXBusiness

The streak continues! Stocks ended the week on a high note as all three major averages land in the green for the sixth week in a row; that's the longest winning streak since 2014. The Dow added 46 points Friday to finish less than 100 points away from the 18,000 mark. The S&P closed down three-quarters of a point and the Nasdaq added 19 points.

A robust October jobs report Friday morning pushed the yield on the benchmark 10-year treasury above 2.3%.

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Oil stocks absorbed a shock; President Obama officially rejected the Keystone XL Pipeline proposal. The controversial 1,200-mile pipeline would have funneled oil from Canada to the Gulf of Mexico.The news hit the company behind the pipeline, TransCanada Corporation (NYSE:TRP), hard. It was good news for the green guys, though, as solar companies basked in the rays of the pipeline rejection.

The Street likes what it sees at Dreamworks (NASDAQ:DWA), as the studio reported stronger-than-expected results. The debut of the movie "Home," released straight to video and DVD, helped lift profit and revenue, even though Dreamworks didn't have a major theatrical release during the quarter.

And Blackberry's (NASDAQ:BBRY) phone business is back from a near death experience. Blackberry launched the new Priv phone Friday, promising the ultimate in privacy and security. It's the first android phone for the company, which has lost market share over the years. The stock jumped 5.5 % on the session.

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