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Stock Market News for October 11, 2016

Benchmarks ended higher on Monday lifted by gains in energy shares. Rise in oil prices boosted energy companies. Saudi Arabia’s energy minister along with Russian President Vladimir Putin’s intention to freeze crude output helped oil prices gain traction. Hillary Clinton’s lead in the U.S. presidential campaign against Donald Trump also added to the bullish sentiment.

For a look at the issues currently facing the markets, make sure to read today’s Ahead of Wall Street article.

The Dow Jones Industrial Average (DJI) gained 0.5%, to close at 18,329.04. The S&P 500 advanced 0.5% to close at 2,163.66. The tech-laden Nasdaq Composite Index closed at 5,328.67, increasing 0.7%. The fear-gauge CBOE Volatility Index (VIX) went up 3.3% to settle at 13.93. A total of around 3.5 billion shares were traded on Monday on the NYSE. Advancers outpaced declining stocks on the NYSE. For 70% stocks that advanced, 27% declined.

Climb in Oil Prices Boost Energy Shares

Oil prices moved north on Monday after Saudi Arabia’s energy minister, Khalid al-Falih, said that he was hopeful that major oil producing nations will agree to trim production level before year-end. He added that it is also “unthinkable” that oil prices could rise another 20% this year to touch $60 a barrel.

Vladimir Putin also supported curbs on petroleum...


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