Schaeffer's Midday Market Check Oil prices are on the rise after a steep drop in U.S. stockpiles
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| | 8/28/2019 | |
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Dow Rebounds on Energy Sector Gains | By Lillian Currens | | The Dow Jones Industrial Average (DJI) has bounced at midday, up 110 points as gains in the energy sector overshadow recession concerns following yet another yield-curve inversion. The boost for energy stocks comes amid a spike in oil prices, with October-dated crude futures up 2.2% at $56.11 per barrel, following a hefty decline in U.S. inventories. Against this backdrop, the S&P 500 Index (SPX) is in the black, though the Nasdaq Composite (IXIC) is lower on a batch of lackluster tech earnings. Continue reading for more on today's market, including: - The airline stock poised to take off, according to one analyst.
- The software stock getting pummeled by post-earnings bear notes.
- Plus, options bulls are betting on a bounce for Macy's stock; MDJH stock soars; and Phibro Animal Health stock falls to the bottom of the Nasdaq.
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