Tuesday, the US stock market closed higher as investors have set aside their credit concern and focus more on the rising oil prices, which rose by 3.3% to $97.10 per barrel at their high for the session. The crude oil prices closed the session at $96.70 for the day. Further the financial sectors led the market rallied late in the session as it garnered a bargain-hunting bid with Goldman Sachs again denying rumors that it is going to announce a write-down.
The Dow Jones Industrial Average (DJIA) surged 117.54 points to close at 13,660.94. The S&P 500 (SPX) index increased by 18.10 points to close at 1,520.27 and the NASDAQ Composite (RIXF) grew 30 points to close at 2,825.18.
Crude oil futures closed up by $2.69 at $96.67 per barrel NYME. The oil prices has touched an intraday high of $97.1 per barrel. The upward move was fueled by multiple factors, including anxiousness that the government''s weekly inventory report on Wednesday will show another decline in crude stockpiles. A bombing in Yemen that shut down an oil pipeline, a forecast for inclement weather in the North Sea.
The Natural Gas prices for the December delivery plunged by $0.13 to settle at $7.86 per million British Thermal units. This was backed by the concerns about the inventories and a bad weather condition.
The Comex Gold prices continued to settle above $800 per ounce for the third consecutive day. The prices rose by $12.6 an ounce to close at $823.4 on the New York Mercantile Exchange. The gold prices have touched an intraday high of $827.2 per ounce. The sharp rise in the gold prices was backed by the tumbling dollar as againt its rival currencies and also the sharp rise in the crude oil prices.
The Dow Jones Industrial Average (DJIA) surged 117.54 points to close at 13,660.94. The S&P 500 (SPX) index increased by 18.10 points to close at 1,520.27 and the NASDAQ Composite (RIXF) grew 30 points to close at 2,825.18.
Crude oil futures closed up by $2.69 at $96.67 per barrel NYME. The oil prices has touched an intraday high of $97.1 per barrel. The upward move was fueled by multiple factors, including anxiousness that the government''s weekly inventory report on Wednesday will show another decline in crude stockpiles. A bombing in Yemen that shut down an oil pipeline, a forecast for inclement weather in the North Sea.
The Natural Gas prices for the December delivery plunged by $0.13 to settle at $7.86 per million British Thermal units. This was backed by the concerns about the inventories and a bad weather condition.
The Comex Gold prices continued to settle above $800 per ounce for the third consecutive day. The prices rose by $12.6 an ounce to close at $823.4 on the New York Mercantile Exchange. The gold prices have touched an intraday high of $827.2 per ounce. The sharp rise in the gold prices was backed by the tumbling dollar as againt its rival currencies and also the sharp rise in the crude oil prices.
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