Stocks posted moderate gains today, with the major indexes all notching fresh closing highs.
The Dow Industrials rose 223 points, the Nasdaq Composite gained 61, and the S&P 500 added 23.
Solid gains for oil futures, lifted by optimism about the U.S.-China trade situation. December crude jumped 95 cents, or 1.7%, to settle at $57.72 a barrel – giving the contract a second-straight weekly advance.
It lost money again, but J.C. Penney’s quarterly results weren’t as bad as feared. The struggling department-store chain posted a smaller-than-expected adjusted per-share loss and its revenue of $2.5 billion was about in line with forecasts, J.C. Penney shares jumped 6.3% today.
Fox, which will air Super Bowl 54 on Feb. 2, is about 80 percent sold out of commercial time. Fox is apparently asking for over $5 million for each 30-second spot.