Stocks are solidly in the green on today’s data on the February employment situation, but perhaps more striking is the bounce-back in energy, with futures for April for light sweet crude up $1.36 at $81.57 per barrel.
Bloomberg’s Mark Shenk notes that’s a 7-week high for crude.
Energy stocks are also responding across the board, with Exxon Mobil (XOM) up 73 cents, or 1%, at $66.13, Chevron (CVX) up 98 cents, or 1.3%, at $74.06, and Repsol YPF (REP) up 43 cents, or 1.8%, at $23.75. The U.S. Oil Fund ETF (USO) is up 73 cents, or 1.8%, at $39.88.
The rest of the commodities complex has responded as well, with gold futures for delivery next month up $2.60 at $1,135.20 per ounce. The Market Vectors Gold Miners ETF (GDX) is up 89 cents, or 2%, at $46.46.
