US STOCKS-Crude oil recovery drives Wall Street rally

miércoles 23 de diciembre de 2015 12:22 GYT
 

* U.S. consumer spending up in November

* Nike reverses course after hitting record high

* Celgene up after settling patent litigation

* Indexes up: Dow 0.71 pct, S&P 0.81 pct, Nasdaq 0.65 pct (Adds details, updates prices)

By Abhiram Nandakumar

Dec 23 (Reuters) - Wall Street rallied for the third straight day, led by sharp gains in energy stocks, as a rebound in crude oil prices boosted sentiment heading into the Christmas holidays.

Oil prices were up after U.S. inventories fell, but still hovered near multi-year lows as oversupply concerns continued to weigh.

The S&P energy sector rose 2.8 percent and led the 10 major sectors on the index by a wide margin. Exxon shares were up 1.9 percent at $79.09, while Chevron was up 2.4 percent at $92.36 and provided the biggest boost to the Dow.

"This is almost always a very good week for the market. The market rallies into Christmas," said Jeff Clark, trading analyst at Stansberry Research in Baltimore.   Continuación...