Commodities finished higher as gold surged on a weaker-than-expected employment report while crude oil futures also climbed to a two-year high.
Crude oil for January delivery finished up $1.19, or 1.24%, to $89.19 a barrel. In other energy futures, heating oil was up 1.5% to $2.49 a gallon while natural gas rose 0.32%, to $4.35 per million British thermal units.
Gold for February delivery finished up $16.90 to $1,406.20 an ounce. In other metal futures, silver rose 2.29% to $29.22 a troy ounce while copper was up 0.2% to $3.98 a pound.
Commodities to watch:
--Cotton futures are near their biggest weekly gain in 39 years on growing concern that India supplies will be limited, reports Bloomberg. Cotton for March delivery was up $0.066 to $1.33 a pound at 2.27 pm EST, according to the most recent quote from CME Group.
Commodity stocks to watch:
--Shares of Cobalt International Energy (CIE) are sharply higher in late trading after getting a new "overweight" rating at Morgan Stanley. Cobalt shares are up 8.45% to $12.45.
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.