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Wall Street cheers rise in Oil prices

FXStreet (Mumbai) - The stock markets in the US rallied on Wednesday as investors cheered the rally in crude prices.

At the time of writing, the Dow Jones Industrial Average (DJIA) was up 166 points, while the S&P had added 19.23 points. The Nasdaq was up 31 points.

Among the DJIA stocks, Chevron was up 2.22%, followed by a 2.145 rise in Boeing. On the other hand, Pfizer was down 0.4%, followed by a 0.30% drop in Apple. Freeport-Mcmoran, a component of S&P 500, advanced 12%.

US and Brent crude oil have soared about 7% in two sessions, providing a powerful boost to energy shares across the globe and in the US.

In related markets, the US dollar index was up just 008%, while the yield on the 10-yr Us treasury note was up more than 5 basis points at 2.086%. Gold prices hovered around its 100-MA located at USD 1143.24/Oz levels.

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