Stocks Keep Momentum as Trump Talks Tax Cuts; Oil Prices Gain
Stocks traded at session highs, with record opens, as equities extended gains following Donald Trump's promise for U.S. tax reform in the next few weeks and oil prices continue to increase. Stocks gained despite consumer sentiment for February falling to 95.7 from 98.5 in January coming in lower than economists expected.
The energy sector was leading markets as West Texas Intermediate crude oil rose close to 2%, showing a nice rebound in oil prices over the last two days.
Shares Activision Blizzard (ATVI) - Get Report soared close to 20% after the video game and personal computer developer reported revenue of $2 billion, up 49%. The company, which brought the Candy Crush Saga games last year, said profit of $254 million rose 60% from the prior year. And, Sears (SHLD) jumped nearly 27% after the struggling retailer announced a restructuring plan aimed at slashing costs by $1 billion.
