Northern Wyoming Daily News - Serving the Big Horn Basin for over 100 years

By MARLEY JAY
AP Markets Writer 

Stocks leap for a 3rd day, driven by gains in oil and tech

 

February 18, 2016



NEW YORK (AP) — Stocks climbed Wednesday as investors clung to hope for an international deal to stem a global glut in crude oil with production cutbacks. That sent the price of oil sharply higher, as well as the stocks of major energy companies like Chevron. Tech stocks also rose, led by Microsoft and Facebook.

The gains capped a three-day rally, the longest so far in 2016, that has wiped out about half of the market’s losses since the beginning of the year. The Standard & Poor’s 500 index hit its lowest point of the year last Thursday, and has risen about 5 percent since then.

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