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Oil bounce back lifts stocks

Monday, December 14, 2015 - 01:13

Stocks closed out Monday's session with gains, after oil prices recovered from a substantial drop earlier in the day. Bobbi Rebell reports.

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A drop in oil prices briefly took the S&P 500 below the 2,000 level. Then crude bounced back, and so did stocks two days ahead of a key Fed interest rate decision. BTIG's Katie Stockton thinks stocks will break out into a rally soon. SOUNDBITE: KATIE STOCKTON, CHIEF TECHNICAL STRATEGIST, BTIG (ENGLISH) SAYING: "I'm bullish, so I think right now, we have a short-term buying opportunity at hand." Newell Rubbermaid's buying Jarden, creating a $16 billion consumer products giant that'll marry brands like Sharpie markers with Coleman stoves. Newell shares fell. Jarden rose. GoPro shares sank on downgrades by Citigroup and Morgan Stanley. Citi chopped the wearable camera maker's price target to $22 from $75. Apple giving back some of its small gains this year. Morgan Stanley and Barclays cut their price targets. Morgan Stanley sees iPhone sales falling six percent in the fiscal year ending September. Stocks of Dow Chemical and DuPont fell after announcing their merger Friday. Activist investor Dan Loeb called for the removal of Dow CEO Andrew Liveris. In Europe, the earlier drop in crude prices sent shares to their lowest level in nearly three months.

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Oil bounce back lifts stocks

Monday, December 14, 2015 - 01:13