Investors Shrug Off Fears Oil Price Sell-Off, Send US Stocks Higher
Major US stock markets have recovered early losses to trade with
moderate gains as investors shrugged off fears of fresh oil price
sell-off following a failure of Doha talks.
At the time of writing, Dow Jones Industrial Average (DJIA) was up 40 points or 0.22%. S&P 500 index was up 3 points of 0.15%. Meanwhile, tech heavy Nasdaq was up just 3 points. Indices had opened slightly weak, tracking weakness in European equities.
DJIA Oil and Gas index was trading largely unchanged despite gap down opening in oil in Asia. Many analysts feared a fresh sell-off in oil as major OPEC and non-OPEC producers failed to sign a production freeze accord.
Among DJIA stocks, shares in Apple and DuPont were down 1.41% and 0.50% respectively. Meanwhile, the winning side included names like Wal Disney, Home Depot, Cisco, McDonald’s.