Oil Prices Fuel Wall Street Boost
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stu99/iStock/Thinkstock(NEW YORK) — A combination of higher oil prices and accelerating auto sales helped the markets post strong gains on Tuesday.
The Dow Jones Industrial Average finished the session on Tuesday at 17,666.40, up 305.36 from its open.
The Nasdaq also rose by 51.05 to close at 4,727.74. The S&P 500 was up 29.18 to close at 2,050.03.
European stocks gained ground on Tuesday after Greece’s finance minister said the new government is willing to accept alternative strategies for making his country’s debt load more bearable.
The Financial Times says Greece has backed off the idea of a flat-debt write-off.
Auto sales shifted into high gear in January, with General Motors posting an 1- percent rise in sales over last January. Toyota said sales were up 16 percent in January, while Ford and Nissan sale numbers climbed 15 percent.
Chrysler posted the best sale numbers for the month of January since 2007.
January is typically a slow month for the auto industry.
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