Stocks made a comeback on Friday, largely on the heels of oil prices which edged higher. Each of the three major indexes closed in the green. The S&P 500 ended the trading day up 1.3% at 2,019, the Dow Jones Industrial Average jumped 190 points closing at 17,511, while the Nasdaq rose 1.4%. Crude prices jumped almost 5.3% settling at $48.69 per barrel. The commodity is still down some 60% since last summer. This caused a rally in oil companies like Exxon Mobil (XOM), Chevron (CVX) and BP (BP). As for economic data, the consumer price index was released on Friday for December, showing a 0.4% drop in prices, after falling 0.3% in November. The markets are closed on Monday in observance of the Martin Luther King, Jr. holiday. TheStreet’s Scott Gamm reports from New York.
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