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S&P 500 Closes at New Record on Thursday as Oil Prices Surge

July 11, 2023
in Trade Tube
Reading Time: 1 min read
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The S&P 500 closed at a new record Thursday as oil prices surged. Crude saw its biggest one-day rally in a month, climbing 3 perccent to over $60 a barrel. Transocean (RIG) was among the best performers on the S&P 500 after settling with BP (BP) over claims related to the 2010 Gulf of Mexico oil spill. NetApp (NTAP) was the worst performer after missing fourth-quarter estimates which led to a series of analyst downgrades. McDonald’s (MCD) shares pressured the Dow throughout the session after the fast food chain concluded its annual shareholder meeting. Lumber Liquidators (LL) was among the worst performers on markets after CEO Robert Lynch resigned. The S&P 500 closed at a new record as oil prices surged. Crude saw its biggest one-day rally in a month, climbing 3% to over $60 a barrel.

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