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Stocks Move Higher as Crude Tops $50


NEW YORK (TheStreet) -- Stocks rose on Friday as the Dow Jones Industrial Average looked to extend a five-day winning streak into a sixth session.

The S&P 500 was up 0.1%, the Dow added 0.18%, and the Nasdaq climbed 0.14%.

Crude oil topped $50 a barrel for the first time in more than two months on Friday. Prices were rallying on hopes of a delayed rate hike from the Federal Reserve and ahead of weekly rig count data Friday afternoon. West Texas Intermediate crude was on track to close more than 10% higher for the week, its biggest five-day gain since 2009. WTI crude was up 1.6% to $50.23 a barrel in morning trading.

The prices for goods imported to the U.S. fell 0.1% in September, according to the Commerce Department. Excluding fuel, import prices dropped 0.3%. Import prices were revised in August to decline 1.6% compared to a previously reported 1.8% drop. Over the past year, import prices have declined 10.7%, the largest year-to-year decrease since October 2009. Lower fuel costs and a stronger U.S. dollar have put downward pressure on the cost of imports.

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