Jim Lowell on China and Rising Oil Prices | NECN Market Analysis

Schlumberger Advances 8% as Crude Oil Rises 3%

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Friday, January 18. Major U.S. stock indexes advanced slightly, with the Dow Jones Industrial Average, S&P 500 and NASDAQ up 1.4%, 1.3% and 1.0%, respectively. Oil prices also rose, gaining 3% today with crude hitting a two-month high. Similarly, oil sector bellwether Schlumberger’s stock surged more than 8% after the world’s largest oilfield services company beat fourth-quarter revenue expectations and declared a dividend of 50 cents per share. Meanwhile, the University of Michigan consumer sentiment index saw a nearly 3% monthly decline, falling to its lowest level since October 2016.

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