TSX, Wall Street Rebound in Global Stock Rally as Oil Prices Surge

stock picksNorth American stock markets rallied Friday to close a week of losses with big gains, propelled by a more than 12 per cent jump in crude oil prices.

The March contract for crude oil shot up US$3.23 a barrel to US$29.44.

Toronto Stock Exchange’s S&P/TSX composite index was up 293.87 points or 2.4 per cent at 12,381.24.

In New York, the Dow Jones industrial average closed up 313.66 points at 15,973.84, while the broader S&P 500 advanced 35.7 points to 1,864.78 and the Nasdaq gained 70.67 points to 4,337.51.  Read More…

This article has 7 Comments

  1. Derick

    It's about time the rebound happened. I've been licking my wounds of serious losses for months now :(.

    The problem i have now is that it is clearly inversely correlated to oil prices. Seeing as how oil is on its last legs are we to expect a deeper dip in the coming months?

  2. Winn S.

    The Loonie is still pretty flat though. BoC needs to cut interest rate.

  3. Braylon Walker

    Nice to see the TSX is kicking some butt these days. Anyone have quality picks?

    Please don't say bank stocks. I have too many in my portfolio. 🙂

  4. Elmer Messler

    Does anyone find it funny that real estate is still booming in Vancouver? lol! I am still kicking myself for not getting into REITs 4 years back.

  5. Camille

    Tech stocks are still doing very well.

  6. Asher Burr

    My mutual funds are still up 15% ytd.

  7. Walter R.

    Hmmm…i just wonder if China's economy is recovering enough to sustain the oil surge.

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