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

Stock market extends rally to a 4th week as energy recovers

 

March 12, 2016



NEW YORK (AP) — A jump in crude oil and a rise in European markets set off a rally in U.S. stocks to cap a four-week winning streak for major indexes.

Investors bought across industries from the start of trading on Friday. Drillers, refiners and other energy companies rose sharply as the price for U.S. crude hit a high for the year. Devon Energy jumped 11 percent and Southwestern Energy gained 10 percent.

Just a month ago, investors were dumping shares amid talk of a possible U.S. recession. The Standard & Poor’s 500 index fell to almost a two-year low. But confidence has returned as da...



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