Iran oil minister announced today their support to stabilizing the excess oil inventory situation, which could mean cutting their oil production. The news was well received and crude oil price today traded at a gain of 5.6%, closing above $30 per barrel.
Stocks posted its biggest 3 day gains since last August as oil rises. Dow ended up 257 points today, or 1.59%. While S&P index falls out of correction territory with today’s gains.
CNBC FAST MONEY FINAL TRADES 02/17/2016
Tim Seymour – Sell iShares MSCI Emerging Markets (EEM)
Brian Kelly – Sell Energy Select Sector SPDR ETF (XLE)
Karen Finerman – Sell Children’s Place (PLCE)
Guy Adami – Buy Netapp (NTAP)