Closing Bell: Burlington Surges; Small Caps Near Bear Market

U.S. stocks made a surprise turn higher in the final hour after crude oil recovered from a fall below $30 a barrel.

Author:: Keris Alison Lahiff
Publish date:: Jan 12, 2016 4:35 PM EST

U.S. stocks made a surprise turn higher in the final hour after crude oil recovered from a fall below $30 a barrel. Small-cap stocks bordered on bear market territory after the Russell 2000 (RUT) fell 20 percent from its 52-week high. The index contains small-cap stocks including home services search engine Angie's List (ANGI) and bookstore chain Barnes & Noble (BKS). Burlington Stores (BURL) surged after providing an update on holiday sales on what was likely a tough quarter. The retailer expects sales to climb 3.7 percent in the fourth quarter even as warmer weather pressured winter apparel sales. Alphabet (GOOGL) shares climbed after Credit Suisse raised its price target to $900 a share. Analysts said YouTube Red, Alphabet's new ads-free streaming service, would significantly contribute to sales. TheStreet's Keris Lahiff has details from Wall Street.