Stock Market Update
07-Aug-24 11:05 ET
Oil prices climb, boosting energy sector
Dow +427.56
at 39425.22,
Nasdaq +312.23
at 16679.09,
S&P +82.21
at 5322.24
[BRIEFING.COM] The market is moving up toward early session highs. The Nasdaq Composite is nearly 2.0% higher.
The weekly EIA Crude Oil Inventories showed a draw of 3.73 million barrels following last week's draw of 3.44 million barrels. WTI crude oil futures moved higher in response, up 3.1% today to $75.43/bbl.
Natural gas futures are also higher, up 3.4% to $2.08/mmbtu, helping boost the energy sector (+1.9%).
