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Stock Market Rally Fueled by Rebound in Oil

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The Dow Jones Industrial Average rallied more than 100 points for a second straight day as a substantial gain in the energy complex, and expectations for the Federal Reserve to give the economy a vote of confidence Wednesday drove the blue-chip index through key technical resistances, and the Nasdaq Composite back over 5,000.

All ten sectors of the S&P 500 were in the green with energy and financial stocks outperforming. Dow component stocks ExxonMobil ( XOM ) and Chevron ( CVX ) were the leaders, followed by gains of at least 3% in financial stocks JP Morgan ( JPM ) and Goldman Sachs ( GS ) on the likelihood for higher U.S interest rates.

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

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