Dow Ratchets Higher on Gains in Banking and Energy, Nasdaq Underwater as Tech Shares Slump


Shutterstock photo

The Dow continues to gain altitude on Thursday as another strong performance in the energy complex drives the blue chip index towards Wednesday's record high.

Oil futures are again posting outsized gains a day after the Organization of the Petroleum Exporting Countries agreed to a production cut to stabilize crude oil prices . Additionally, upbeat data on the manufacturing sector coupled with a rebound in shares of oil producers is giving the financial sector a boost on expectations for a December rate hike, and improved profits for oil companies.

The S&P 500 and Nasdaq Composite are trading lower with technology and consumer staples weighing.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Stocks


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com