6/22/2018, 3:32 PM (Source: TeleTrader)
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Wall Street opens higher as OPEC increases output

Markets on Wall Street started trading higher on the last trading day of the week after the Organization of the Petroleum Exporting Countries (OPEC) announced new adjustments to its output deal as the cartel said it is raising production starting from July 1. Meanwhile, geopolitical uncertainties remained strong as Iran announced it is prepared to leave the Joint Comprehensive Plan of Action, a move that would follow Washington's decision to leave the agreement.

The Dow Jones Industrial Average increased 0.58% at the start of the day. Chevron and ExxonMobil were trading with biggest gains, improving 2.75% and 1.67%, respectively.

The Nasdaq 100 was 0.22% up at 3:31 pm CET. Telecommunications company Liberty Global's class A and B shares jumped 2.08% and 2.26%, respectively, while Satellite service provider Dish Network added 2.25%.

The S&P 500 gained 0.51% at 3:31 pm CET. Car retailer CarMax surged 8.86%, above Marathon Oil Corporation which advanced 7.43%.

The euro gained 0.44% against the dollar, selling for $1.1653 at 3:42 pm CET. West Texas Intermediate (WTI) deliveries for August jumped 2.26% to sell for $67.43 per barrel at 3:52 pm CET.

Baha Breaking News (BBN) / VP