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U.S. Stocks Rise as Oil Advances, Dollar Weakens: Markets Wrap
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Loading...U.S. stocks advanced for a third day as crude pushed above $50 a barrel before OPEC meets this week. The euro advanced too.
Gold rose and crude climbed to the highest in a month as Saudi Arabia said all producers agree on extending output cuts.
Meanwhile, President Donald Trump is trying hard to deflect attention from the domestic political crisis surrounding former FBI Director James Comey. He’s traveling in the Middle East, where U.S. companies have signed multi-billion dollar deals in the defense, energy and infrastructure industries, before continuing on to Europe.
Here are the key events for investors this week:
* Fed officials Patrick Harker and Neel Kashkari are both scheduled to speak Monday.
* Twitter Inc. holds its annual meeting the same day.
* Euro-area finance ministers discuss Greece’s bailout program, also on Monday.
And here are the main movers:
Commodities
* West Texas Intermediate oil climbed 0.7 percent to $50.69 per
barrel as of 9:31 a.m. in New York, extending a 2 percent
advance Friday.
* Gold gained 0.2 percent to $1,258.34 an ounce. The metal jumped 2.2 percent last week.
Currencies
* The Bloomberg Dollar Spot Index fell 0.2 percent after its worst weekly performance since July.
* The euro added 0.4 percent to $1.1245 after earlier dropping as much as 0.4 percent.
Stocks
* The Stoxx Europe 600 Index fell less than 0.1 percent following the worst week since November.
* The S&P 500 rose 0.2 percent to 2,387.49 after the underlying gauge increased 0.7 percent Friday. It’s up 1.3 percent since Wednesday.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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