US stocks climb on year’s last Wednesday

US stocks climb on year’s last Wednesday

Markets ended higher on a quiet Wednesday, with the dow reaching a 2 year high. The trading week continues to be light as the Northeast recovers from a blizzard and investors have already taken off for the holiday week. Stocks have climbed around 6% in December. For the year, the Dow is up about 11%, the S&P 500 is up close to 13% and the Nasdaq is up almost 18%. 

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Energy companies including Chevron, ConocoPhillips, and Exxon Mobile hit 52 week highs during the day, and led markets higher, as oil prices continue to hover around 2 year highs.

German based business software company SAP, which has to pay $1.3 billion for copyright infringement to Oracle, will now have to pay approximately $16 million in interest, a judge ruled. SAP’s now defunct software maintanence unit, TomorrowNow, was charged with copyright infringement.