Wall Street up on oil best closing levels in over a year

Wall Street closed higher today, despite the holidays due to Trump's continued lack of conviction, (risk-on), and the optimism ocreated today over an output freeze in oil.

Risk-on was the theme today and U.S. stocks were able to rally helped along by a demand driven market from oil logging its highest close in over a year on the back of Russian President Vladimir Putin's and Khalid al-Falih's (Saudi Arabia's energy minister) comments in regards to an OPEC output freeze. WTI finished at its best level since July 15, 2015 with a high of $52bbls spot.

This sent the energy sector up more than 1% and the S&P 500 climbed 9 points, or 0.5%, to close at 2,163 while the Dow Jones Industrial Average scored 88 points higher, or 0.5%, to end at 18,329. The Nasdaq Composite Index took on 36 extra points, or 0.6%, to close at 5,328.