US STOCKS-Dow set to snap 8-day losing run as oil climbs [Reuters]
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Source: Reuters
US STOCKS-Dow set to snap 8-day losing run as oil climbs | Reuters Reuters Staff 4 Min Read * Exxon, Chevron boost S&P; and Dow; tech weighs on Nasdaq * Oil prices jump after OPEC agrees to modest hike in supply * Red Hat slumps on disappointing revenue forecast * Dow up 0.69 pct, S&P; gains 0.40 pct, Nasdaq down 0.13 pct (Updates to early afternoon) By Medha Singh June 22 (Reuters) - U.S. stocks rose on Friday with the Dow Jones Industrial Average looking to snap its 8-day losing streak, powered by a surge in oil prices, but losses in technology stocks curbed some gains. The benchmark Brent crude jumped $1.83 to $74.88 a barrel, following three days of losses, after OPEC agreed to modest crude output increases to compensate for losses in production at a time of rising global demand. Exxon Mobil rose 2.4 percent and Chevron gained 2.7 percent, lending the biggest boost to the S&P; 500 and the Dow. The S&P; energy index was up 2.9 percent, eyeing its best day in nearly a month. A recen
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