Oil Price Jump Pulls Stocks to Record Highs

Dow ends day up 89 points
By Newser Editors and Wire Services
Posted Nov 21, 2016 3:16 PM CST
Trader Tommy Kalikas, right, works on the floor of the New York Stock Exchange, Monday, Nov. 21, 2016.   (AP Photo/Richard Drew)

(Newser) – A jump in oil prices helped pull US stocks to record highs Monday as investors continue to hope for a cut in oil production that could help prices go higher, the AP reports. The start of the week once again brought several corporate deals, with companies in the energy and technology industries making moves. The Dow Jones industrial average gained 88.76 points, or 0.5%, to 18,956.69. The Standard & Poor's 500 index rose 16.28 points, or 0.7%, to 2,198.18. The Nasdaq composite added 47.35 points, or 0.9%, to 5,368.86. (Read more Dow Jones stories.)

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