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U.S. Stocks Climb While Oil Falls Amid Suez Block: Markets Wrap

  • Crude volatile amid efforts to move ship stuck in Suez Canal
  • Small-cap stocks post gains after flirting with correction
Bloomberg business news
WATCH: Time to invest in equities, says Julius Baer CIO Yves Bonzon.(Source: Bloomberg)
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U.S. equities gained amid progress in distributing vaccines and as investors weighed the outlook for economic growth and inflation. Oil tumbled after a rally spurred by the blockage of the Suez Canal.

Banks and transportation companies led gains on the S&P 500 Index, and Boeing Co.’s plan to resume delivery of its 787 Dreamliners this week lifted the planemaker. An index of small-cap shares gained more than 2% as President Joe Biden announced a new goal of administering 200 million Covid-19 vaccine doses in his first 100 days in office. Nike Inc. fell on concern it risked a boycott in China.