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Energy shares power stocks

Tuesday, November 03, 2015 - 01:21

Equities got a boost yet again from energy shares, shaking off mixed economic news. Jeanne Yurman reports.

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Energy stocks energizing the market yet again. Chevon and Exxon Mobil helped power Dow higher. Peter Cardillo of Rockwell Global Capital: SOUNDBITE: PETER CARDILLO, CHIEF MARKET ECONOMIST, ROCKWELL GLOBAL CAPITAL (ENGLISH) SAYING: "The energy sector is up for the second day in a row, and that's on the back of higher oil prices. Oil prices are up over two percent right now, and, I think, that's, basically, what's fueling the market's rally today." Activision Blizzard is buying King Digital Entertainment the maker of the "Candy Crush Saga" game. Activision, best known as the company behind the popular video game, "Call of Duty," is paying $5.9 billion. The strong dollar hurt quarterly profit at Avis Budget. Shares slumped after the car rental company also cut its full-year forecasts for profit and revenue. Sprint shares dropping. The wireless carrier narrowed its loss, but it was still much wider than expected. On the flip side, American Eagle Outfitters moved higher. The teen clothing retailer hiked its quarterly profit forecast on the back of strong sales. Economic news was mixed. U.S. auto makers reported strong October sales. But factory orders fell for a second straight month in September. In Europe, as in the U.S., oil and gas stocks lifted shares.

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Energy shares power stocks

Tuesday, November 03, 2015 - 01:21