U.S. Stocks Gain Steam Despite Declines in Oil; GE Acquires 3D Printing Companies
U.S. stocks rose Tuesday, as oil prices added one percent on hopes of a production freeze among the world's biggest oil producers.
U.S. stocks rose Tuesday, shrugging off a one percent decline in oil prices. Saudi Arabia and Russia signed a pact to bring stabilization to oil markets on Monday at the G20 Summit in China, though it still remains unclear if this will lead to an output freeze. General Electric (GE) - Get Report has agreed to acquire 3D printing companies Arcam and SLM Solutions, based in Europe, for $1.4 billion. GE shares inched higher by 0.2 percent. Gilead Sciences (GILD) - Get Report shares were upgraded to BUY from HOLD by the analysts at Jefferies, as the stock trades at under seven times earnings. The analysts have a price target of $91; the stock currently trades near $77. TheStreet's Scott Gamm reports from Wall Street.
