Markets Surge Into Positive Gains For Year

The Dow Jones industrial average rose into positive territory for the year after a difficult stretch for the market last week.”Traders welcomed a government report showing that consumer spending and incomes rose in February. Another report hinted at strong start to the spring buying season.Energy stocks were among the biggest gainers, bucking a slide in the price of crude oil.

“You had all the elements today for a positive market,” said Quincy Krosby, market strategist for Prudential Financial. The 30-company index was up as much as 295 points. It’s now up 0.9 percent for the year.” [ABC/AP]

Greece’s energy minister visited Russia on Monday intensifying the country’s stalling bailout negotiations with the EU. “Greek energy minister Panagiotis Lafazanis will meet his Russian counterpart Alexander Novak as well as Alexei Miller, the chief executive of Russian energy giant Gazprom.

The minister will discuss the lifting of a Russian embargo on Greek agricultural products, according to news site Greek Reporter. The Greek delegation is also due to discuss increased cooperation between the two countries in the energy sector and encourage Russia to invest in underwater plots for oil exploration.” [Newsweek]

1.4 million Ohioans are living within a half-mile radius of railroad lines where some of the most-volatile crude oil in North America rolls by each week and would be at severe risk in the case of an accident. “Those people, about 12 percent of the state’s population, are at risk of being forced from their homes should a train hauling crude oil from the Bakken shale fields of North Dakota run off the tracks.

Most trains that transport crude oil stay on their tracks, but derailments can be catastrophic.” [The Columbus Dispatch]