FOX Business: The Power to Prosper

The markets closed out the holiday-shortened trading session with solid gains, driven by energy and materials shares that got a boost from rallying commodity prices.

Today's Markets

The Dow Jones Industrial Average climbed 72.4 points, or 0.56%, to 12944, the S&P 500 rose 5.3 points, or 0.39%, to 1371 and the Nasdaq Composite gained 24.9 points, or 0.84%, to 2976.

Oil prices rallied on the back of saber rattling by Iran. The country, which has been facing stiff sanctions from the U.S. and European Union, has once again began talking about potentially trying to cut the critical Straight of Hormuz off to tankers that have the flag of the countries that are sanctioning it, according to multiples news reports. 

The benchmark contract traded in New York soared $3.23, or 3.9%, to $86.98 a barrel. Wholesale New York Harbor gasoline jumped 3.1% to $2.706 a gallon.