US Stocks Maintain Gains Even as Oil Closes Below $42

New York (Aug 17)  Stocks managed to hold onto gains through the afternoon session Monday despite pressure from the commodities market as crude oil closed below $42 a barrel.

The Nasdaq rose 0.75%, the S&P 500 was up 0.43%, and the Dow Jones Industrial Average gained 0.38%.

Crude oil slid again on Monday as commodity traders continued to worry about record levels of production and weak global demand. Analysts at Morgan Stanley warned in a weekly report that they have concerns over the price of crude in the second half of 2015 as peak seasonal demand begins to wane. West Texas Intermediate crude closed 1.5% lower at $41.87 a barrel.

Source: TheStreet