The Dow Jones Industrial managed to close above 18,000 for the first time this year. The S&P 500 is at a record high and the Nasdaq closed at its highest level since March 2000, the peak of the tech bubble. Stocks were fueled by firming oil prices. Crude futures added to gains settling at $52.78 a barrel. Energy stocks rose including blue chip, Chevron (CVX). Conoco Philips (COP) and Hess (HES) also gained better than 2.5%. There were decliners in the session, especially from utilities stocks. Exelon (EXC) led the sector lower after missing earnings expectations. Despite being downgraded by Credit Suisse to UNDERPERFORM, Abercrombie & Fitch (ANF) still gained better than 3%. U.S. markets will be closed on Monday to commemorate the President’s day holiday.
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