A gradual increase in the price of oil over the past 4 weeks has helped the stock market pick-up some decent gains. U.S. crude oil settled up 66 cents, or 1.74 percent, at $38.50 a barrel. Oil is now up 10% in a month. Another report says that the price of oil may have bottomed out. Read more here.
Today’s gain were also due in part to investors taking a more positive view of yesterday’s announcement by the European Central Bank that it will take additional stimulus measures.
Art Cashin, Director of Floor Operations for UBS talked to CNBC about today’s market movement.
Even though recently the markets have shown some gains, Americans have really been racking up the credit card debt. In fact new figures show that total U.S. credit card debt is now close to $1 billion dollars. See more below.
Here are the final numbers from Friday, 3/11/16 on Wall Street
Dow Jones Industrial Average: 17,213.31 (+218.18/ +1.28 %)
NASDAQ: 4,748.48 (+86.31 / +1.85 %)
S&P 500: 2,022.19 (+32.62 / +1.64 %)