Jump to content

Sign in to follow this  
News Feeds

Stocks mostly higher after Fed's Beige Book

Recommended Posts

(CNBC) — Stocks closed mostly higher on Wednesday, helped by better-than-expected earnings and rising oil prices, following the release of key economic data from the Federal Reserve.

 

The Dow Jones industrial average rose about 40 points, with Goldman Sachs contributing the most gains. The S&P 500 gained 0.2 percent, with energy rising approximately 1.4 percent to lead advancers.

 

The energy sector had traded more than 2 percent higher earlier in the session, after the Energy Information Administration reported a 5.3 million crude oil drawdown. West Texas Intermediate futures for November delivery rose 2.6 percent to settle at $51.60 per barrel.

 

“It’s a combination of energy rising and better-than-expected earnings,” said Christian Magoon, CEO of Amplify Investments. “We’re just riding that right now.”

 

Continue reading...

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×

Important Information

Your Privacy Is Important To Us Learn More: Privacy Policy