Thursday, 24 December 2015

On Wall Street, oil proffers modest Santa Claus rally

Wall Street rallied for the third consecutive session on Wednesday, propelled by sharp gains in energy stocks as a rebound in oil prices boosted sentiment heading into the Christmas holiday.

The S&P 500 finished 1.24 percent higher, bringing its gain this week to almost 3 percent following a soft start to December.

For 2015, the S&P 500 has emerged into marginally positive territory, up 0.26 percent while the Dow Jones industrial average is down 1.24 percent.

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