Stock and oil prices rebounded in volatile trading on Tuesday, leading to gains in all of the indices. OPEC and Russian oil industry officials continued discussing a possible partnership to reduce the world’s oil glut. Meanwhile the U.S. central bank is expected to leave interest rates unchanged after its two-day policy meeting that began today and hinted it may not raise rates until mid-2016 at the earliest.
Oil gained $1.30 a barrel, or 4.26 percent, to close at $31.45.
Tim Ghriskey, chief investment officer of Solaris Group told Reuters:
“This is a schizophrenic market. Big up days, big down days. No real direction.”
Here are the final numbers from Tuesday, 1/26/16 on Wall Street.
Dow Jones Industrial Average: 15,885.22 (+282.00/ +1.78%)
NASDAQ: 4,518.49 (+49.18/ +1.09%)
S&P 500: 1,877.07 (+26.55 / +1.41%)