Equities Market Roundup: Commodities Holding Stocks

U.S. stocks are up today thanks in large part to the rebound in the commodities markets. Energy and precious metals investors had experienced a steep sell-off last week but prices could be finding their footing once more. Oil recovered after supply surfaces and lowered demand dropped prices. Oil is now trading at just over $101 per barrel. Silver had been the commodity hit hardest last week, but has surged to trade over $37 per ounce. Gold also recovered and is now trading at $1509 an ounce.

Major U.S. Stock Indices

DJIA: 12,706.44 (+0.54 percent)
S&P 500: 1,347.25 (+0.53 percent)
Nasdaq: 2,846.74 (+0.68 percent)
Russell 2000: 841.41 (+0.97 percent)

In other news:

• Citigroup (NYSE: C) shares are trading down over 2 percent after its 1:10 reverse stock split. But if you’re using Yahoo! Finance, they’re actually up 875 percent! [WSJ]
• Is LinkedIn worth $3 billion? It’s a social network, so it has to be. [Reuters]
• Clive Capital, a $5 billion hedge fund, supposedly lose $400 million in the recent commodities sell-off. [Business Insider]
• Turns out the housing market isn’t getting better. According to Zillow, home values lost over 8 percent the last year and 28 percent of homes are underwater. [Bloomberg]
• Standard and Poor’s lowered their rating on Greek debt as more doubt around how the country plans to manage its financial system arises. [NY Times]