Friday, 2 December 2016

Markets mixed but oil rises again

Markets were mixed on Thursday.

The Dow Jones Industrial Average rose 0.36 percent to another record high but the S&P 500 fell 0.35 percent.

The STOXX Europe 600 fell 0.3 percent but the MSCI Asia Pacific Index rose 0.6 percent.

Oil rose again on Thursday. Brent crude surged more than 4 percent while West Texas Intermediate jumped 3.3 percent.

Gene McGillian, manager of market research for Tradition Energy, sees WTI crude "reaching the 2016 highs near $52 and even pushing above that" while Goldman Sachs forecast an increase in prices to $55 for WTI and $56.50 for Brent.

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