The second trading day of the year was a good one for oil and energy stocks.
 | TUE, JAN 05, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 131.01 | +1.60 | +1.24% | | INTC | 50.61 | +0.94 | +1.89% | | MSFT | 217.90 | +0.21 | +0.10% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 131.01 | +1.60 | +1.24% | | GE | 10.77 | +0.30 | +2.87% | | F | 8.65 | +0.13 | +1.53% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 131.01 | +1.60 | +1.24% | | AMD | 92.77 | +0.47 | +0.51% | | MU | 77.26 | +3.21 | +4.33% | |
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The second trading day of the year was a good one for oil and energy stocks. U.S. crude futures jumped nearly 5% on Tuesday, briefly breaking above the $50-a-barrel mark for the first time since Feb. 26. The surge came after Saudi Arabia said it would voluntarily cut production by 1 million barrels per day in February and March. The Energy Select Sector SPDR Fund (XLE) popped 4.5%, its biggest one-day gain since Dec. 4 when it rallied 5.5%. Occidental Petroleum, Marathon Oil and Diamondback Energy were among the best-performing names in the fund.  Crude also got a boost from mounting bets on the global economy recovering. In the U.S., the Institute for Supply Management's manufacturing index rose last month to 60.7, its highest level since August 2018. Copper, which is used on Wall Street as a leading indicator of economic growth, hit its highest level in about eight years on Tuesday. To be sure, the number of coronavirus cases worldwide continues to rise, forcing countries to impose lockdown measures that could thwart any economic recovery. Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. |
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