While you were sleeping: Oil outlook still clouded

Tue, 16 Feb 2016

By Margreet Dietz Feb. 17 (BusinessDesk) - Wall Street rallied, even as a gain in oil prices fizzled, as investors found value in some beaten-down stocks. In 1.09pm New York trading, the Dow Jones Industrial Average climbed 1.3 percent, while the Nasdaq Composite Index surged 2 percent. In 12.54pm trading, the Standard & Poor’s 500 Index advanced 1.4 percent. On Monday US financial markets were closed for the Presidents’ Day holiday. To be sure, some say the gains might be short-lived. "We are seeing some bargain hunting but it...

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