Stocks climbed on Wednesday. Energy brands such as PetroChina, Total, Schlumberger, and ConocoPhillips led the way. Crude oil added 1.7% to settle at $48.79 a barrel following a decline in crude oil inventories. Energy Information Administration figures, released today, showed reserves decreased by 4.2 million barrels last week.
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Trading ended in green territory on Tuesday. United Parcel Service added five percent and Pfizer tacked on three percent today following the release of better-than-expected quarterly data. Brands rebounded from the recent downswing on a jump in crude oil.
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Indices closed in the red zone on Monday. Energy brands such as Chevron, ConocoPhillips, Schlumberger, and BP led the way down. West Texas Intermediate crude slipped 1.6% today to settle at $47.39 a barrel. Meanwhile, Qualcomm added 0.57% following a Morgan Stanley ratings upgrade to “overweight” from “equal weight.”
Trading closed out lower on Friday. Brands retreated on a variety of economic news. Crude oil continued to dip. West Texas Intermediate crude slipped 0.6% to settle at $48.14 a barrel.
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Stocks dipped on Thursday amid a variety of economic news and earnings details. McDonald’s reported quarterly net income of $1.26 per share. The results surpassed expectations of $1.23 per share.
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