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Wall Street ends higher ahead of G20 meeting, crude oil settles at highest in two years

Oil&Gas Materials 11 November 2010 02:25 (UTC +04:00)

U.S. stocks ended modestly higher on Wednesday, a day before world leaders meet in Seoul, which may have big influence on currency market, Xinhua reported.

The market opened lower on Wednesday even after government report showed the initial jobless claims fell to 4-month low.

The Labor Department said before the opening bell that the number of people filing for jobless benefits dropped by 24,000 to a seasonally adjusted 435,000, while analysts were expecting a much smaller decline. However, major indexes climbed out of negative territory, led by energy stocks as crude oil futures settled at their highest in more than two years, defying a rising dollar.

The Dow Jones industrial average added 10.29, or 0.09 percent, to 11,357.04. The Standard & Poor's 500 index gained 5.31 points, or 0.44 percent, to 1,218.71 and the Nasdaq was up 15.80 points, or 0.62 percent, to 2,578.78.

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