Dow Jones Industrial Average Today Turns Higher On Rising Crude Prices

The collapse of the Doha oil talks couldn't hold back the Dow Jones Industrial Average today. Traders found support from news of a strike by Kuwaiti oil workers that will reduce the nation's oil output by more than 50%. But we know that this strike won't be short-lived given the importance of crude supplies to Middle Eastern economies.

Despite a downturn in the tech sector Tuesday, the Dow rallied on the back of rising crude oil prices. WTI crude increased by 3.1% on the day, while Brent crude added 2.5%.

Here's what else you need to know about the markets on April 19, 2016.

The Shocking Forecast for Oil Prices in 2016: Crude oil prices plunged in 2015, but our forecast points to a turnaround this year that will send the price of oil higher.

First up, check out the results for the Dow Jones, S&P 500, and Nasdaq:

Dow Jones: 18,053.60; +49.44; 0.27%

S&P 500: 2,100.80 +6.46; 0.31%

Nasdaq: 4,940.33 -19.69; -0.40%

Now, here's the top stock market news today…

DJIA Today: Financial Stocks Turn Higher Despite Lowered Expectations

The financial sector continued to show weakness as trading volumes decrease. Financial firms are also no longer benefiting from the U.S. Federal Reserve's quantitative easing program. This morning, Goldman Sachs Group Inc. (NYSE: GS) reported its weakest revenue levels in four years due to weakness in its bond trading and investment banking divisions. Still, GS stock added 1.5% because the bank beat such weak expectations.

Expectations for Goldman were so low that just the fact that they beat earnings helped push up shares of Bank of America Corp. (NYSE: BAC), JP Morgan Chase & Co. (NYSE: JPM), Morgan Stanley (NYSE: MS), and Wells Fargo Co. (NYSE: WFC), all of which increased by more than 1%.

Merger and acquisition activity hasn't dried up for these banks. According to Reuters, Bass Pro Shops – which is privately held – is working with the private-equity division of Goldman Sachs to make a play for hunting and fishing retail giant Cabela's Inc. (NYSE: CAB). Shares of CAB added more than 7% on the news.

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