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On Tuesday, Wall Street saw new highs at the open, with gains from healthcare and bank stocks continuing the new year rally. A 1.7 percent gain in Johnson & Johnson and a 5 percent leap in Boston Scientific assisted the S&P health sector to gain 0.7 percent.
At 9:41 a.m. ET, the Dow Jones Industrial Average was up 66.68 points, or 0.26 percent, at 25,349.68 and the S&P 500 was up 5 points, or 0.18 percent, at 2,752.71. The Nasdaq Composite was up 4.08 points, or 0.06 percent, at 7,161.47…..Read More Now
THE HERALD FINANCE REPORT
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On Tuesday, the price of oil climbed higher reaching its highest level seen since May 2015, propped up by OPEC-led production cuts and the belief that U.S. crude inventories have fell the eighth week in a row.
The Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia are extending the supply cuts through 2018, the second full year of restriction, to reduce the excess in the oil inventories. Brent crude gained 18 cents at $67.96 per barrel by 11:08 a.m. EST and earlier in the session touched $68.29, its highest since May 2015. U.S. West Texas Intermediate crude (WTI) gained 36 cents to $62.09 and reached its highest since May 2015 as well at $62.56….Read More Now