Wall Street opens mixed as oil surges and pound rises

Market Reports | Markets 12/1/2016, 3:49 PM
Wall Street opens mixed as oil surges and pound rises

Markets in the United States opened mixed on Thursday as investors digested the country's jobless claims data. Meanwhile, oil prices continued to rise after the Organization of the Petroleum Exporting Countries (OPEC) agreed on an output cut for the first time in eight years. Sterling rallied to an almost two-month high against the dollar on Brexit Secretary David Davis' statement that the United Kingdom will consider paying contributions to the European Union even after it leaves the bloc in order to get "the best possible access for goods and services" in the European market. 

The S&P 500 inched up 0.14% at 3:31 p.m. CET. Energy companies led the gains with Marathon Oil surging 4.88% at 3:31 p.m. CET.

The Dow Jones increased 0.25% at 3:32 p.m. CET. The best performer was The Travelers Companies, climbing 1.13% at 3:33 p.m. CET.

The Nasdaq 100 edged down 0.07% at 3:32 p.m. CET. 

The pound jumped 1.16% against the dollar to sell for 1.2650 at 3:34 p.m. CET after reaching a two-month high of 1.2696 earlier in the session. The dollar index fell 0.27% to 101.30 at 3:36 p.m. CET.

Crude prices soared over 3% as Brent crude sold for $53.35 per barrel at 3:29 p.m. CET and WTI went for $51.81 per barrel at 3:28 p.m. CET.

TeleTrader Newsroom / NP


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