Oil, Gas Companies Fuel Wall Street Rally - East Idaho News
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Oil, Gas Companies Fuel Wall Street Rally

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Getty WallStreet?  SQUARESPACE CACHEVERSION=1421447396962iStock/Thinkstock(NEW YORK) — Oil and gas companies fueled gains in the markets on Friday, sending them higher for the first time in days to close the week.

The Dow Jones Industrial Average finished the session at 17511.57, up 190.86 from its open.

The Nasdaq rose 63.56 to 4634.38. The S&P 500 was up 26.75 to close at 2019.42.

A long drop in crude prices was placed on pause after the International Energy Agency cut its estimate of oil production from countries outside OPEC. The price of oil is now half of what it was last June.  

Investment bank Goldman Sachs reported a ten percent drop in fourth-quarter earnings on Friday, hurt by a fall in trading activity.

Safety regulators are looking into potentially serious problems in SUVs involving engine compartment smoke or fire complaints in 2015 Jeep Cherokees and air bags that didn’t properly inflate in 2013 Nissan Rogues.


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