Oil, Stocks Rebound on Recovery Hopes - New York Times

The dollar fell against the euro as figures showing a stabilizing euro zone economy and a good week for the U.S. stock market eroded demand for the greenback as a safe haven..

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The rise in risk appetite on hopes that a global recession is bottoming out led oil prices to rebound and top $68 a barrel. Analysts and traders hope a turnaround in the global economy will lift battered fuel demand. Solid corporate earnings and a slew of recent data boosted optimism about the economy and gave new life to a months-long rally in U.S. stocks that lifted the Dow <.DJI> above the 9,000 mark this week for the first time since early January.

Full Story: Oil, Stocks Rebound on Recovery Hopes - New York Times