Oil and Gold Outshine Market's Gains

Stock markets are moving slightly higher today after a number of economic indicators came in right around expectations. New jobless claims were at 371,000, and job openings rose slightly to 3.68 million, above the 3.67 million reported a month earlier. The Dow Jones Industrial Average (DJINDICES: ^DJI  ) proceeded to rise 0.55%, while the more diverse S&P 500 (SNPINDEX: ^GSPC  ) is up 0.68%.

One of the more interesting moves of the day was crude oil's spike to $94.70 per barrel, after which it settled in at a 0.9% rise to about $94 per barrel. China reported a 14.1% increase in exports in December, which is a strong economic indicator for one of the few economies in the world that are still growing. Oil has reversed a slide that had the commodity trading below $90 per barrel since mid-October, and it doesn't appear to be losing steam yet.

ExxonMobil (NYSE: XOM  ) and Chevron (NYSE: CVX  ) have climbed 1.3% and 0.9%, respectively, on the news and continue to slowly gain ground as oil rises.

It would be easy to assume that Alcoa (NYSE: AA  ) would follow the rise of oil, as the aluminum maker has often jumped when positive economic news comes out of China. But in the same report, data shows that copper imports fell and that we may not be seeing a sustainable increase in demand for raw materials to end 2012. Right now Alcoa has lost 1.1% of its value today. 

Gold has gained 1.24% today after the dollar lost value. The SPDR Gold Shares (NYSEMKT: GLD  ) has also gained 1.1%

Send your portfolio higher
For a limited time, we're inviting our readers to get to know Motley Fool co-founder David Gardner. David's picks have frequently trounced the market, and for the first time ever, David is giving exclusive personal tours of his Supernova investing service. Find out how David finds revolutionary stocks by claiming your tour today. Just click here to get instant access.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2190027, ~/Articles/ArticleHandler.aspx, 9/28/2016 1:04:50 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,211.41 -16.89 -0.09%
S&P 500 2,157.45 -2.48 -0.11%
NASD 5,297.52 -8.19 -0.15%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/28/2016 12:49 PM
AA $9.72 Up +0.07 +0.67%
Alcoa CAPS Rating: ***
CVX $99.68 Up +0.70 +0.71%
Chevron CAPS Rating: ****
GLD $125.89 Down -0.73 -0.58%
SPDR Gold Trust CAPS Rating: **
XOM $84.26 Up +1.02 +1.23%
ExxonMobil CAPS Rating: ****