Oil Prices, Consumer Confidence Lift Stocks

Summary

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NEW YORK (AP) - Better-than-expected consumer confidence numbers and a drop in oil prices sent stocks higher Wednesday, extending Wall Street's November rally in light pre-holiday trading.

Investors were encouraged by the University of Michigan's consumer confidence index, which came in at 81.6, slightly higher than the 81 reading Wall Street expected. That could bode well as consumers head to the malls on Friday for the start of the holiday shopping season.

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Extract

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Oil Prices, Consumer Confidence Lift Stocks

Oil prices dropped after the Energy Department reported substantial increases in the nation's fuel stockpiles. A barrel of light crude was quoted at $58.71, down 13 cents, on the New York Merc...

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