Wall Street higher on tech, financials; Brent slides

20 Jan 2016 | Author: | No comments yet »

US stocks rise moderately in light trading; oil stocks fall as oil prices drop.

NEW YORK, N.Y. – U.S. stocks moved modestly higher in late-morning trading Monday, rebounding after two days of heavy selling last week. The holiday-shortened last two weeks of the year typically are positive for the market, since investors close out positions and the light volume tends to distort any market moves. U.S. markets will close early on Thursday for Christmas Eve and will be closed for Christmas. “Today’s calendar is relatively light, and with liquidity getting thinner over the course of the week, the potential for exaggerated moves is very real,” said Chris Beauchamp, senior market analyst at IG. “The default direction is still likely to be up, given past performance.”

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