Oil Rally, Holiday Retail Push U.S. Stocks Higher: Markets Wrap

‘Black Friday’ shoppers turn out; crude reaches two-year high
Euro strengthens, dollar drops; European shares pare advances

Eurasia’s Charles Lichfield discusses German politics with Bloomberg TV’s Guy Johnson.Markets: European Open.” (Source: Bloomberg)

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Andrew Dunn and Robert Brand

November 23, 2017 at 9:50 PM UTC

Updated on

November 24, 2017 at 9:02 PM UTC

This article is for subscribers only.

A rally in oil and optimism at the mall buoyed U.S. stocks to a record at the traditional start of the American holiday shopping season.

Retailers sought to build on positive earnings as consumers descended on stores looking for “Black Friday” bargains. Meanwhile, West Texas crude reached a two-year high, boosting shares in energy companies. Macy’s Inc., and Amazon.com Inc. were among the S&P 500 Index’s top performers in a shortened post-Thanksgiving session, as were Hess Corp. and Marathon Oil Co.