The Dow staged quite a rebound following its worst week since September, adding 528 points for the day, while the S&P 500 and Nasdaq closed with solid gains as well. Investors are eagerly awaiting tomorrow's CPI reading, in which analysts expect a 7.3% increase year-over-year, while today's data showed the U.S. budget deficit widened to $248.5 billion in November. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), logged its highest close since Nov. 8.
Oil Prices Snap Six-day Skid
Oil prices snapped their six-day losing streak as supply concerns reemerged due to the suspension of the Keystone Pipeline. West Texas Intermediate (WTI) crude for January delivery added $2.15, or 3%, to settle at $73.17 a barrel on the New York Mercantile Exchange.
Gold prices closed lower for the first time in the last five sessions. February-dated gold dropped $18.40, or 1%, to settle at $1,792.30 per ounce.
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