Markets Right Now: Wall Str opens higher

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Source:   —  April 19, 2016, at 4:59 PM

m. Energy stocks are among the gainers in early trading on Wall Str as the price of crude oil turns higher. Chesapeake Energy jumped five % and Southwestern Energy rose four % in the first few minutes of trading Tuesday.

Markets Right Now: Wall Str opens higher

The Latest news on global financial markets (all times local):

9:35 a. m.

Energy stocks are among the gainers in early trading on Wall Str as the price of crude oil turns higher.

Chesapeake Energy jumped five % and Southwestern Energy rose four % in the first few minutes of trading Tuesday.

The price of U. south. benchmark crude oil rose one % to $40 a barrel in New York. Natural gas futures soared five percent.

The Dow Jones industrial average gained thirty-four points, or 0.2 percent, to 18.039.

The Standard & Poor's five hundred index added three points, or 0.2 percent, to 2.097. The Nasdaq composite edged down eleven points, or 0.2 percent, to 4.948.

seven:40 a. m.

Wall Str is set to track European and Asian markets higher when it opens.

Futures markets are pointing to 0.4 % advance for both the Dow Jones industrial average and the broader S&P five hundred index.

A no of factors have been behind Tuesday'south gains, including powerful German economic data and the recovery in the price of oil. But the mood in stock markets has seen a longer-term improvement, at minimum since late February.

Joshua Mahony, market analyst at IG, says sentiment in markets appears to be "bullish by default" and that as a result it seems love it'll "take something hugely significant to knock the indices off their strides."

Large gainers on Tuesday comprise Germany'south DAX, which is up 2.4 % at 10.363, and Japan'south Nikkei, which soared 3.7 % to near at 16.874.44.

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5:10 a. m.

Germany'south DAX stock index is outperforming its European peers after a better than expected survey of investment analysts suggested things may be looking up for Europe'south largest economy.

The ZEW Institute said its indicator of economic sentiment rose in April to 11.2 points from the previous month'south 4.3. The increase, the second in a row, was way more than anticipated in markets. The consensus was for a more modest rise to 8.2.

Though the survey had some more cautious elements, Spreadex analyst Connor Campbell said the headline no provided the "green light" for the DAX "to roar into life."

It'south up 2.3 % at 10.350. That'south double the rate seen in most other European markets. The Stoxx six hundred index of European shares is up 1.2 % at 348.4.

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5:05 a. m.

The price of oil has recovered ground it lost since plunging early Monday, a sign possibly of greater investor confidence in the global economy.

In morning trading, the benchmark NY rate was forty-six cents higher at $40.24 a barrel.

Oil has been one of the main drivers in financial markets this year, when it fell to 12-year lows amid concern about high supply and weakness in the global economy.

But following a precipitous decline early Monday, after oil-rich nations failed to consent to a production slice over the weekend, it's bounced higher.

That suggests that worries over the global outlook have eased somewhat, and that the supply glut may be easing.

For James Hughes, chief market analyst at GKFX, it'south a sign that the oil market is "turning slightly to the upside" and that traders are willing to let crude trade at higher levels.

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4:10 a. m.

European stock markets are tracking their Asian counterparts higher as oil prices recouped losses they recorded in the wake of the failure of oil-rich nations to cap production.

Among Europe'south main indexes, Germany'south DAX was trading 1.3 % higher at 10.253 while Britain'south FTSE one hundred rose 0.8 % to 6.406.

The gains in Europe came after a powerful session in Asia. Japan'south Nikkei led the advance as it notched up a 3.7 % to near at 16.874.44.

The improving sentiment in stock markets has been helped by the rally in oil prices following an initial decline of about 7 % in the wake of Sunday'south failure by oil-producing nations to announce a production cap. A barrel of benchmark NY crude was up sixty-seven cents at $40.45.

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