American stocks post gains
A sharp drop in oil prices gave Wall Street a modest relief rally today, with stocks edging higher on news that oil production had soared during the month of September.
Investors who have sold stocks for months as oil prices climbed reversed course Monday and started buying as the price of crude declined. While oil topped 55 per dollars barrel in pre-market trading, the latest production report from OPEC – showing crude production last month at 25-year highs – deflated futures trading substantially.
