The markets broke their losing streak after the Dow was able to close in the positive (+119) for the first time in 9 days. The strong move in the oil sector propped up Dow, with names like Chevron (CVX  ), and Exxon Mobil (XOM  ) leading the way.

The S&P 500 was also higher thanks to oil, adding 5 on the day. The Nasdaq 100 was left behind today and ended in the red with a loss of 20. Tech stocks continue to be in profit-taking mode.

Sector News:

Oil (USO  ) made waves today after OPEC members agreed to increase oil production. The details of the actual production plan are not entirely clear. Analysts estimated that actual production increases will be around 600,000 barrels a day, lower than expected. The price of oil shot higher by 4% on the news.

The energy sector (XLE  ) as a whole benefitted from the news in the oil sector. From the energy sector to exploration stocks (XOP  ) to oil service stocks (OIH  ), all were higher on the day by at least 2%.

Consumer staples (XLP  ) closed at highs on the week as stocks like Costco (COST  ), Procter & Gamble (PG  ), and Pepsi (PEP  ) continued to push higher. The three names make up 25% of the XLP, with PG at 12%, Pepsi at 9.53% and Costco at 4.5%.

Stock News:

Carmax (KMX  ) shares blasted off to new highs today, adding 13% as the company reported earnings that handily beat expectations. The stock had its best one-day move in almost 4 years. The company said the results were solely due to a reduction in their tax rate from 25.3% to 37.4% thanks to Trump's tax plan. Car sales are still on the down slope, losing 2.3%, though this is not as bad as analysts expected.

Blackberry (BB  ) shares tumbled 8% today as the company reported mixed earnings. Revenue was lower by 11%, though the company did beat expectations by $7 million. Licensing and IP came in almost 100% better than this time last year and the CEO made comments that the stock price should be higher. He stated the company is financially safe, but "now we need to make it interesting."