A huge turnaround on Wall Street. The Dow, which had been nearly 300 points lower Wednesday following another devaluation of China’s yuan, finished flat. The S&P and Nasdaq also pared their losses to close higher. One big catalyst for the turnaround- crude oil. It bounced back from Tuesday’s losses following a report Wednesday showing a decline in weekly inventories. Even though the drop was a bit smaller than expected, it was enough to push oil up to $43.18 a barrel. That helped the big oil stocks. Chevron (CVX), ExxonMobil (XOM) and Halliburton (HAL) all finished higher. After the close Wednesday, Cisco reported revenues and earnings that beat Wall Street estimates.
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