Dow Jones Today: Stocks Gain as Oil Plummets and Treasury … – Investopedia

Stocks rose Wednesday as oil prices slumped on a delayed oil cartel meeting and Treasury yields rebounded.

The Nasdaq traded 0.6% higher Wednesday afternoon, while the S&P 500 and the Dow Jones Industrial Average rose 0.4%.

Sam Altman was reinstated as CEO of OpenAI just five days after the board voted to oust him. He’s possibly returning with two new board members: former Treasury Secretary Larry Summers and former Salesforce CEO Bret Taylor. OpenAI said Taylor would serve as chair of the new three-person board that will also include existing board member, Adam D’Angelo.1

Oil prices fell as much as 5% Wednesday morning after OPEC+ delayed a meeting scheduled for this weekend to Nov. 30. A Bloomberg report suggested the delay could have been caused by Saudi Arabia’s dissatisfaction with some OPEC members’ compliance with voluntary production cuts.2

Markets are closed tomorrow for Thanksgiving and will reopen Friday for a half day.

Stocks fell yesterday on worrying earnings…

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