Midday Report: Crude Makes Surprise Turnaround; Deutsche Backs Disney

The Dow Jones Industrial Average and S&P 500 held lower despite a surprise turnaround in crude oil prices.
Author:
Publish date:

The Dow Jones Industrial Average and S&P 500 held lower despite a surprise turnaround in crude oil prices. Crude shook off earlier losses after Russia's Energy Minister expressed high hopes of an OPEC deal. Crude had tumbled earlier in the session after the EIA reported that more than 5 million barrels of crude were added to U.S. stockpiles over the past week. The reading was more than triple what analysts expected. Confidence among homebuilders continued into November with the NAHB's index holding unchanged in positive territory. Sentiment has held above 60 for the past three months. Disney (DIS) - Get Report got a boost after Deutsche Bank upgraded its rating to BUY from HOLD. The firm has more confidence in the cable and consumer products business.