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U.S. stocks rebound as oil prices jump

Xinhua, February 13, 2016 Adjust font size:

U.S. stocks bounced up Friday as oil prices rose sharply amid OPEC production cut speculation.

Oil prices jumped as media reported that the UAE energy minister said OPEC was ready to cooperate on production cuts with other exporters.

The U.S. West Texas Intermediate (WTI) crude and Brent crude both gained as much as six percent against their previous settlements in the morning session.

The Europe stock markets went high, lifted by Deutsche Bank, which said it will buy back 5.4 billion dollars debt.

Shortly after the opening bell, the Dow Jones Industrial Average moved up 110 points, or 0.7 percent, to 15,778. The S&P 500 gained 15 points, or 0.8 percent, to 1,843. The Nasdaq Composite Index rose 27 points, or 0.6 percent, to 4,294.

U.S. stocks ended lower Thursday as investors rushed to safe-haven assets amid a global rout in equity markets. Endi