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OPEC cut lifts markets; Yellen speaks; Stumpf testifies

OPEC agrees to cut oil production

1. Surprise oil agreement: Crude prices jumped more than 5% overnight to just over $47 per barrel after OPEC countries finally struck a preliminary agreement to cut oil production.

The deal was almost a year in the making as the world's biggest oil producers fought over their market share.

Under the agreement, OPEC oil production is expected to be reduced to a range of 32.5 to 33 million barrels of oil per day from 33.4 million. But oil prices eased back early Thursday -- markets...