U.S. stocks climbed sharply higher Tuesday as a rebound in oil prices assisted reinvigorate bullish sentiment on Wall Street, according to MarketWatch.
The U.S. oil benchmark CLG6, -2.40% rallied 2.9% to finish at $37.87 a barrel, erasing much of the previous session’s rout. However, the big gains for crude didn’t translate to sharp advances in the energy sector, which added 0.6%—one of the session’s smallest advances among the main S&P 500 sectors.
Frederick noted much of what happens in stock markets next year will depend on whether oil prices stabilize and whether the dollar keep appreciating or not.
Not everyone was sanguine about Tuesday’s moves. Some analysts noted that sharp gains in a handful of the largest companies has masked weak returns on the S&P 500. For example, the S&P 500 Equal Weighted Index is down more than 3% year to date.
Still, Wall Street analyst are slightly optimistic for the new year, as 10 analysts polled by MarketWatch have an average year-end S&P target of 2,193. That implies a gain of about 5% from the current level of 2,077. MarketWatch Reports
On Tuesday, Oasis Petroleum Inc. (NYSE:OAS)’s shares inclined 3.83% to $7.32. With its recent share price change, OAS market value has reached roughly $1.11 billion. Its most recent quarter balance sheet showed the company is standing at a -0.90 current ratio and possess -1.03 as debt to equity ratio. The company has a Profit Margin (ttm) of 14.60% and has 69.90% gross margins. The operating profit margin is -5.00%. The stock’s performance in 1 month is -35.34% and its volatility for the same period is 10.72%.
Oasis Petroleum Inc., an independent exploration and production company, focuses on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin.
Potash Corporation of Saskatchewan (USA) (NYSE:POT)’s shares dropped -0.39% to $17.73. The market capitalization of Potash Corporation of Saskatchewan (USA)(NYSE:POT) is $15.16 billion with the total traded volume of the company is 6.05 million. Turning to market valuation, the Price-to-Earnings ratio is 10.07, the Price-to-Sales ratio is 2.17 and the Price-to-Book ratio is finally 1.72. The dividend yield amounts to 8.57 percent and the beta ratio has a value of 0.94.
Potash Corporation of Saskatchewan Inc., together with its auxiliaries, produces and sells fertilizers and related industrial and feed products worldwide. The company operates in three segments: Potash, Nitrogen, and Phosphate. It mines and produces potash, which is primarily used as fertilizer.
Comerica Incorporated (NYSE:CMA)‘s shares surged 0.59% to $42.28. The last trading range of Comerica Incorporated (NYSE:CMA) ranges between $41.92 and $42.69. The EPS of the company stands at $3.02. The 52-week range shows that the stock reached higher at $53.45 while its lower range is $39.52 in the last 52-weeks. The average volume of the company is at 2.15 million with the Outstanding Shares of 176.73 million. The market capitalization of the company is $7.48 billion. The Beta of the company stands at 1.38 with the RSI (Relative Strength Index) of 45.36.
Comerica Incorporated, through its auxiliaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Administration.