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

North 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…

Replies to this Post

  1. Derick says:

    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. says:

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

  3. Braylon Walker says:

    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 says:

    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 says:

    Tech stocks are still doing very well.

  6. Asher Burr says:

    My mutual funds are still up 15% ytd.

  7. Walter R. says:

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

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