Wall Street rides coattails of soaring oil production
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A sharp drop in oil prices led to a modest rally on Wall Street yesterday, with stocks edging higher on news that oil production had soared during the month of September.
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Blue-chip stocks flirted with record highs, buoyed by record corporate profits and moderating energy prices.
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The Dow Jones hits a record high in intraday trading - its highest in level for six years - as oil prices continue to slide.
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Investors are expected to focus on oil prices and corporate earnings outlooks this week, and the slightest warning about company revenues could weigh on stocks.
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Soaring oil prices trumped positive earnings news Wednesday, sending stocks skidding as investors rushed to take profits on new fears that the market is in the midst of a commodities bubble.
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World oil prices shot higher on Monday  as companies operating in the U.S. Gulf of Mexico braced for  output disruptions from powerful Hurricane Ivan.
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OIL continues to set new records by the day. Last Friday, it was in whispering distance of $50 a barrel as Iraq and the woes of the giant Russian producer, Yukos, kept markets on tenterhooks.
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A NEW record high for oil took some of the shine off Wall Street trade yesterday. An upbeat picture of inflation and good housing data boosted the mood early on and strong earnings from several retailers, led by Home Depot, also helped to keep the major ...
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U.S. blue chips were higher on  Tuesday, led by shares of major oil producers benefiting from  higher crude oil prices, which broke through the $50 a barrel  mark.
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NEW YORK - A sharp drop in oil prices gave Wall Street a small relief rally Monday, with stocks regaining ground after falling earlier in the session.    While oil prices topped $55 per barrel in pre-market trading, the latest production report from OPEC - showing oil production at 25-year highs - deflated futures trading substantially...
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NEW YORK : Wall Street struggled to notch up gains on Monday, after finishing on a high note last week, despite cooling oil prices.
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NEW YORK : Wall Street suffered a heavy bruising as oil prices soared to record highs igniting fresh fears about US economic growth amid uncertainty over the deadlocked presidential election.
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Wall Street bounded higher for the second straight day yesterday as investors reveled in sharply falling oil prices and the probusiness agenda of the second Bush administration.
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NEW YORK - Soaring oil prices trumped positive earnings news Wednesday, sending stocks skidding as investors rushed to take profits on new fears that the market is in the midst of a commodities bubble.    Stronger than expected profits at chip bellwether Intel Corp...
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NEW YORK - A slowdown in economic growth and oil prices' advance to near record highs renewed Wall Street's fears of disappointing third-quarter earnings Thursday and pushed stocks mostly lower. Only the Nasdaq composite index managed a minimal gain...
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ExxonMobil (XOM:NYSE - news - research) stepped up to the plate Thursday with record-breaking profits that raced past Wall Street estimates.
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Leading Wall St shares were given a boost by data showing stronger economic growth than expected and by a fall in oil prices. At the closing bell, the Dow Jones was up 56.46 points to 10,815.89 and the Nasdaq had risen by 6.12 points to 2,157.03.