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Energy, Wal-Mart boost stocks

Thursday, August 18, 2016 - 01:29

U.S. stocks ended up slightly on Thursday as Brent oil's rise above $50 a barrel boosted energy shares. Bobbi Rebell reports.

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Higher oil prices helping lift stocks on Thursday. The major indexes closing with modest gains. Keith Bliss of Cuttone & Co. (SOUNDBITE) KEITH BLISS, SENIOR VICE PRESIDENT, CUTTONE & CO (ENGLISH) SAYING: "For right now, the volumes are depressed. The difference in volumes between January and August, for example, are generally down. But the difference in volumes between January 2016 and August 2016 are the lowest that they have been in several decades. " Wal-Mart boosting the S&P after the retailer raised its outlook and reported rising sales. The company said paying workers more improved the shopping experience and helped bring more customers into their U.S. stores. Harley-Davidson stock falling after the company agreed to pay a $12 million civil fine and stop selling illegal after-market devices that cause its motorcycles to emit too much pollution. Shares of private prison operators Corrections Corp and Geo Group dropping after the U.S. Justice Department said it plans to phase out the use of privately-operated prisons. Valeant Pharmaceuticals is buing sued by T. Rowe Price. The mutual fund company alleges that investors in the Canadian drugmaker lost billions of dollars as a result of what T. Rowe Price calls Valeant's "fraudulent scheme." Separately, the company reached new terms with lenders to loosen the terms of its loan as it tries to recover and sell off its assets. Turning to Europe, stocks turned positive on Thursday. The major country indexes posted gains.

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Energy, Wal-Mart boost stocks

Thursday, August 18, 2016 - 01:29