US stocks rally as oil jumps

US stocks opened higher today, tracking a sharp rise in oil prices despite which major indices still appear on track to end the week with marginal losses.

At the time of writing, Dow Jones Industrial Average (DJIA) was up 125 points or 0.73%. S&P 500 index was up 16 points or 0.82%. Nasdaq was up 0.72% or 33 points.

Gains come after a dismal Thursday when heightened Yen driven volatility in the FX markets saw investors shun risk assets in favor of Gold. However, Yen rally stalled today after Japan’s finance minister Taro Aso said he may act against “one-sided” yen rises.

Furthermore, a more than 5% rally in Brent and WTI oil also help restore the risk sentiment in the markets.