Market Roundup: Positive Week as Oil Prices Increase

Indices began the week with gains as energy stocks stepped up on a slight dip in crude oil. Crude pared earlier losses as the session progressed. The markets closed with mixed moves on Tuesday when both the Dow Jones Industrial Average and S&P 500 index tacked on some points while the NASDAQ traded slightly into red territory. West Texas Intermediate crude climbed 3.3% to settle at $41.08 a barrel. Commerce Department data showed U.S. housing starts decreased in March, with new construction falling 8.8% to a rate of 1.09 million versus expectations of 1.17 million. The markets posted gains across the board on Wednesday as oil prices increased 4%. Existing-home sales ramped up 5.1% to 5.33 million in March versus expectations of 3.7% growth. Stocks took a pause in their upward climb on Thursday as the oil rally slowed and doubts persisted whether the stimulus measures of the European Central Bank were working. Indices were mixed on Friday with the Dow and S&P 500 adding marginal gains while the NASDAQ traded lower. Crude oil ramped up again as West Texas Intermediate crude increased 1.4% to settle at $43.73 a barrel.