Market Movements

Economy

Stocks hover near record highs

U.S. stocks closed higher Monday as merger and acquisition activity plus hope for a resolution to U.S.-China trade tensions buoyed investor sentiment.

Energy

Oil prices up as strong demand offsets rising inventory

Oil prices rose on Wednesday after U.S. government data indicated bullish demand for gasoline and distillates, which overshadowed a surprise build in U.S. crude inventories and U.S. crude oil production hitting 11 million bpd for the first time.