While you were sleeping: Oil rebound lifts Wall St

Thu, 14 Jan 2016

By Margreet Dietz Jan. 15 (BusinessDesk) - Wall Street rose, as a recovery in the price of oil offered investors confidence to pick up beaten-down stocks. Goldman Sachs said the selloff was overdone. In 12.40pm trading in New York, the Dow Jones Industrial Average climbed 1.4 percent, while the Nasdaq Composite Index rose 1.6 percent. In 12.25pm trading, the Standard & Poor’s 500 Index gained 1.2 percent. “We've seen such a strong selloff and moved into correction territory for the year, there's more of a ‘sentiment-in-momentum’ trade...

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