Oil prices continued their upward climb Thursday, buoyed by Wednesday's landmark OPEC agreement. OPEC will reduce oil production by 1.2 million barrels a day starting in January - it's first production cut since 2008. The news sent Brent and West Texas Intermediate higher by roughly 9%. Saudi Arabia bearing the biggest brunt of the cuts to the tune of 486,000 barrels a day. Russia, a non-OPEC member, agreed to cut production by 300,000 barrels a day. Nigeria and Libya are not part of the agreement. In biotech news, a Bluebird Bio (BLUE) T cell therapy has put two patients with advanced multiple myeloma into complete remission for four to six months, according to a report by TheStreet's Adam Feuerstein. Bluebird is partnering with Celgene (CELG) in developing the therapy. And December 1 is World AIDS Day. Apple (AAPL) has teamed up with (RED), an organization that helps fight HIV/AIDS started by U2 star Bono and will display red signage at some 400 locations to help spread awareness. Apple is also selling (RED) branded merchandise. Finally, Goldman Sachs (GS) chief operating officer Gary Cohn was spotted in Trump Tower and has reportedly met with President-elect Donald Trump. Cohn is said to be willing to leave his position at the bank if offered a government job by Trump, according to the New York Times. TheStreet's Scott Gamm reports from Wall Street.
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CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.