Closing Bell: Crude Settles Higher; Wall Street Clinches Fresh Records

The Dow Jones Industrial Average roared to new records and ended Friday with weekly gains for the fifth time in a row. The S&P 500 and Nasdaq also scored new records after closing at all-time highs a day earlier. Crude oil closed higher despite another increase in drilling activity in the U.S. Oil got a boost from hopes of collaboration between OPEC and non-OPEC members in a Saturday meeting to address a supply glut. 21st Century Fox (FOXA) - Get Report sank after reaching a preliminary deal to buy Sky for just over $14 billion. Fox magnate Rupert Murdoch and his family already hold a stake in the pay-TV company. American Airlines (AAL) - Get Report rose after it said it expects fourth-quarter total revenue per available seat mile to come in higher than anticipated. Industry peers such as United (UAL) - Get Report and Delta (DAL) - Get Report also moved higher.