United States stocks move higher as the price of crude oil stabilizes

Diamond Offshore rose $1.22, or 6 percent, to $21.52.

The Dow Jones Industrial Average gained 123.07 points (0.72 per cent) to 17,251.62.

The tech-heavy Nasdaq Composite rose 46 points, or 0.93%, to 4,969, helped by index heavyweight Apple (NASDAQ:AAPL), which ended the day slightly firmer in the wake of an interview with chief executive officer Tim Cook, broadcast on Sunday, in which he maintained that the company’s products were being manufactured in China because of the skill of the country’s workforce, rather than because of low labor costs.

The rebound of stocks following the decision had a turn because of the increase considers about global market slowdown which trouble in the high return bond market and low price commodities.

WTI crude oil was down around a further 1% at US$35.70 a barrel on Monday while Brent crude, the worldwide benchmark, lost about 1.4% to US$36.35 a barrel. The S&P 500 and the Nasdaq Composite also climbed 0.3%. Kinder Morgan rose 63 cents, or 4.2 percent, to $15.78.

Energy stocks continued to fade as a result, making it the worst performing part of the S&P 500.

The Standard & Poor’s 500 index was up 2 points, or 0.1 percent, to 2,007.

After the bell, shares of Micron Technology dropped 2.9 percent after the chipmaker posted a disappointing first-quarter report.

The U.S. stocks market will close early Thursday for Christmas Eve, and will be shut on Friday for Christmas Day. The U.S. economy expanded at a 2 percent annual rate in the July-September quarter, a bit lower than its previous estimate of 2.1 percent.

Trading was volatile as the holiday season approached and some investors were cautious over prospects for next year.

Volume on the U.S. exchanges was 6.4 billion shares, compared to a 7.5 billion average over the last 20 trading days, according to Thomson Reuters data. The dollar fell against the euro to $1.0925 while the dollar was mostly unchanged against the yen at $121.08.

“Today’s calendar is relatively light, and with liquidity getting thinner over the course of the week, the potential for exaggerated moves is very real”, said Chris Beauchamp, senior market analyst at IG.