The United States will be celebrating Independence Day on Thursday -- and investors may choose to celebrate that the U.S. stock market didn't slump on Wednesday.
In fact, stocks recovering from early selling, and the major averages all finished with modest gains.
Crude oil (-CL), however, closed above $100 a barrel in New York for the first time since May 3, 2012, on speculation that political turmoil in Egypt would push prices higher. And motorists are likely to pay more at the pump as a result.
The positive finish for stocks may have surprised some. Futures trading overnight had suggested a nasty open because of Egypt and its effect on oil prices, and European stocks were off more than 1%.
But the catalysts were bullish: improving jobless claims in the United States and some cheer on the part of business that a mandate for employers with more than 50 workers to provide health insurance has been put off a year.
For Complete News Visit: http://money.msn.com/top-stocks/post--stocks-offer-surprising-strength-so-far
No comments:
Post a Comment