Oil Price Plunges as Egyptian Crisis Shows Signs of Moderation

The market focused on M&A activities and corporate earnings reports as macroeconomic data were scarce and the unrest in Egypt showed signs of stabilization yesterday. Wall Street surged with the S&P 500 index rising +0.62% and approaching a fresh 2.5-year high. DJIA also gained +0.57%. Of all S&P 500 companies that have reported results so far, 72% beat expectations.

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Oil Price Plunges as Egyptian Crisis Shows Signs of Moderation