Thursday, 26 May 2016

S&P 500 Ascends 2% in Two Days

Wall Street rose robustly for a second straight session on Wednesday, helped by higher oil prices and investors becoming more comfortable with the prospect of an interest rate hike as early as next month.

Combining Tuesday and Wednesday's performances, the S&P 500 gained 2 percent, its strongest two-day run since early March. The energy sector.

SPNY led the way in the latest session, up 1.51 percent as oil prices rose toward $50 a barrel.

That followed a report of a larger-than-expected drop in US crude inventories, adding to expectations that a steep selloff in the commodity may be over.

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