Wall St rises with oil prices, earnings optimism| MENAFN.COM

Wednesday, 08 February 2023 04:51 GMT

Wall St rises with oil prices, earnings optimism


(MENAFN- Saudi Press Agency)
New York, Rabi'II 24, 1439, Jan 11, 2018, SPA -- Wall Street surged to record highs on Thursday as rising oil prices lifted energy stocks and investors bet on a strong U.S. corporate earnings season.
The S&P energy sector jumped more than 2 percent as Brent crude rose above $70 a barrel for the first time since December 2014, boosted by a surprise drop in U.S. production and lower crude inventories.
The industrial index was helped by airlines after an upbeat forecast from No. 2 U.S. carrier Delta Air Lines.
Dow Jones Industrial Average rose 138.1 points, or 0.54 percent, to 25,507.23, the S&P 500 gained 13.76 points, or 0.5 percent, to 2,761.99, and the Nasdaq Composite added 43.16 points, or 0.6 percent, to 7,196.73.
Xerox shares jumped about 5 percent after the Wall Street Journal reported the copier maker was in deal talks with Japanese camera maker Fujifilm Holdings that could include a change in control of Xerox.
The S&P 500 posted 90 new 52-week highs and seven new lows; the Nasdaq Composite recorded 154 new highs and 16 new lows.
--SPA
00:18 LOCAL TIME 21:18 GMT

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