Stock Market Roundup, Dec. 12: Oil Soars, Trump Clashes With China

It was a mixed day on the stock market as investors reacted to a new production cut agreement from several non-OPEC members that sent oil prices soaring, as well as statements from President-elect Trump that have caused diplomatic tensions between the U.S. and China.

Tech-focused investors were also surprised by the news that several of the sector’s top leaders are planning on meeting with the president-elect later this week.

Zacks Rank #1 (Strong Buy) Biggest Movers

Value: Ocean Rig UDW Inc. - +19.37%

Growth: On Track Innovations (OTIV) - +4.59%

Momentum: OTIV

VGM: ORIG

Income: TransMontaigne Partners - +2.64%

Major Indexes

DOW: 19,772.63 / +15.78 / +0.08%

NASDAQ: 5,407.76 / -36.74 / -0.68%

S&P 500: 2,255.79 / -3.74 / -0.17%

Top Headlines

Top Tech Leaders to Meet Trump: 4 Stocks in Focus

Technology leaders are set to meet President-elect Donald Trump in a summit to be held on Wednesday. Per The Wall Street Journal, the small selective group is expected to include top-executives from Apple (AAPL - Free Report) , Alphabet (GOOGL - Free Report) , Amazon (AMZN - Free Report) , Cisco (CSCO - Free Report) , Facebook , IBM (IBM - Free Report) , Intel (INTC - Free Report) , Microsoft (MSFT - Free Report) and Oracle (ORCL - Free Report) , along with Tesla Motor’s (TSLA ) Elon Musk.

Could Donald Trump Send Chinese Stocks Crashing?

President-elect Donald Trump has targeted the "One China" policy, and the Chinese government has responded with a strong diplomatic protest. Could the dissolution of U.S. and Chinese diplomacy cause severe economic consequences for the Asian powerhouse?

Here's Why Oil Prices Are Soaring Today

Oil prices soared above $54 a barrel for the first time in nearly a year and a half Monday morning as several non-OPEC nations, including Russia, agreed to join the cartel in cutting their production next month.

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