Wall St. rallied after freezing temperatures helped boost oil prices. Bobbi Rebell reports.
Cold weather produced a hot rally. Snowstorms fueled oil prices and energy shares, lifting Wall Street to its first weekly gain of the year. Allianz Global Investors' Kristina Hooper says, investors are also betting on an inactive central bank. SOUNDBITE: KRISTINA HOOPER, U.S. INVESTMENT STRATEGIST, ALLIANZ GLOBAL INVESTORS (ENGLISH) SAYING: "There are certainly perceptions that the Fed may sit on their hands for a while, not raise rates anymore for awhile, and, I think, that's helping market sentiment right now." Help wanted at Amazon. The online retailer plans to hire several thousand people in Europe partly to expand its warehouses and delivery network. Eleven days 'til D-day at Yahoo. Sources told Reuters the Internet company will reveal its strategic vision on February 2nd. American Express shares dropping. At least nine analysts cut their price targets after the credit card issuer put out a weak forecast. Google highly values Apple's mobile real estate. Bloomberg says it paid $1 billion to keep its search bar on the iPhone. Shares of Apple and Google's parent, Alphabet, rose. In economic news, existing home sales bounced back sharply in December. That's a sign the housing recovery is on track. In Europe, energy shares helped extend the rally for a second straight session.