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North American Stock Exchange rise despite higher oil prices

New York stock markets rose as it seems that investors disregarded the news that OPEC countries did not come to an agreement on a production ceiling during the meeting in Vienna.

08.Jun.16 7:52 AM
By Anastasia Sutulova


North American Stock Exchange rise despite higher oil prices
As a result, the S&P/TSX composite index increased by 73.45 points and amounted 14,136.99. The Dow Jones industrials climbed 48.89 points and finished 17,838.56, while the S&P 500 index gained 5.93 points to 2,105.26 and the Nasdaq rose 19.11 points to 4,971.36.

Because of the constrains between Saudi Arabia and Iran, OPEC failed to strike an agreement. Nevertheless, stock markets went up despite higher oil prices.

The July contract for benchmark North American crude rose 16 cents and amounted US$49.17 a barrel, while the Canadian dollar fell 0.22 of a U.S. cent to 76.31 cents US.

Elsewhere in commodities, July natural gas rose two cents to US$2.40 per mmBTU, while August gold fell $2.10 to US$1,212.60 a troy ounce and July copper did not change and stayed at US$2.07 a pound.

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