Oil Dampens Rally on Holiday Spending, Stocks Finish Higher

All the major markets finished with gains Thursday but off session highs. High spirits on holiday spending fizzled with oil continuing its decline and the renewed threat of a government shutdown. Crude oil fell below $60 a barrel for the first time in more than five years. Big oil Exxon Mobil (XOM) and Chevron (CVX) managed to still hold onto some earlier gains and closed in the green. But mid-cap drillers including Transocean (RIG) and Nabors Industries (NBR) both saw losses. Airlines soared even higher on lower fuel costs, extending Wednesday's rally. United Continental (UAL), American Airlines (AAL) added more than 3%. Delta (DAL) fared the best, up 4.57%. Retailers set the trend higher in the session on the strong start to the holiday shopping season. Urban Outfitters (URBN) was among the best performers on the S&P 500, climbing better than 7.5%.