Wendy's, Twitter & Caterpillar Big Gainers as Oil Ignites Stocks

Stocks soared on rising oil prices on Tuesday. The Dow Jones Industrial finished up more than 300 points.
Author:
Publish date:

Stocks soared on rising oil prices on Tuesday. The Dow Jones Industrial finished up more than 300 points. The S&P 500 and Nasdaq gained better than 1%. Crude oil spiked adding 7% to further its multi-day rally. Futures for March delivery settled at $53.05 a barrel. Energy stocks rode oil's rally with shares of Chevron (CVX) and Exxon Mobil (XOM) leading the blue chips higher. But it was Caterpillar (CAT) that was the best performing Dow component. The tech heavy Nasdaq was held down by heavyweight Apple (AAPL). Twitter (TWTR) soared more than 6% higher after announcing advertising deals with Yahoo (YHOO) Japan and Flipboard. And fast-food chain Wendy's (WEN) was a big gainer in the session on its plans to sell 500 additional locations to franchisees.