A huge turnaround on Wall Street. The Dow, which had been nearly 300 points lower Wednesday following another devaluation of China's yuan, finished flat. The S&P and Nasdaq also pared their losses to close higher. One big catalyst for the turnaround- crude oil. It bounced back from Tuesday's losses following a report Wednesday showing a decline in weekly inventories. Even though the drop was a bit smaller than expected, it was enough to push oil up to $43.18 a barrel. That helped the big oil stocks. Chevron (CVX), ExxonMobil (XOM) and Halliburton (HAL) all finished higher. After the close Wednesday, Cisco reported revenues and earnings that beat Wall Street estimates.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.