Stocks extended their rally Tuesday, with blue-chips measured by
the Dow Jones Industrial Average posting their second consecutive
triple-digit rise. Gains were supported by another rise for crude
oil again carrying benchmark West
Texas Intermediate above $53 per
barrel again. Promises overnight by Greece's new finance minister
his country will not try to default on its massive debt load also
lifted equities.
Energy stocks continued their recent rebound as crude oil futures rose for a fourth day in a row. Crude oil for March delivery settled $3.48 higher at $53.05 per barrel while March natural gas futures rose 7 cents to $2.75 per 1 million BTU. April gold declined $16.60 despite some retracement by the U.S. dollar in global currency markets, finishing at $1,260.30 per ounce.
Today's gains also came despite largely bearish economic data. Factory orders fell to a five-month low in December, sliding 3.4% and exceeding consensus estimates for a 2.2% decline. November orders also were lowered to a 1.7% decline from an initially reported 0.7% slide.
Energy stocks continued their recent rebound as crude oil futures rose for a fourth day in a row. Crude oil for March delivery settled $3.48 higher at $53.05 per barrel while March natural gas futures rose 7 cents to $2.75 per 1 million BTU. April gold declined $16.60 despite some retracement by the U.S. dollar in global currency markets, finishing at $1,260.30 per ounce.
Today's gains also came despite largely bearish economic data. Factory orders fell to a five-month low in December, sliding 3.4% and exceeding consensus estimates for a 2.2% decline. November orders also were lowered to a 1.7% decline from an initially reported 0.7% slide.
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