Dow Jones Industrial Average futures rose 121.00 points (.97%) to 12550.00, S&P 500 futures rose to 1320.25, up 11.50 points (.88%), and NASDAQ futures rose 15.00 points (.59%) to 2537.50.

WTI crude futures rallied $1.10 to 83.72 and gold futures traded sideways, gaining 10 cents and traded at $1619.50.

Energy stocks moved higher as crude rallied., Exxon Mobil Corp. (XOM) rose 1.02% and Chevron (CVX) rose 1.07%.

Home Depot rose 2.26%, the largest increase in the Dow.

Nokia (NOK) dropped over 13% after the management decided to cut 10,000 jobs and shut down factories by the end of next year due to increased competition.

The morning wrapped up with a record breaking 30-Yeat Treasury auction. The treasury sold $13 billion in 30-year bonds at a yield of 2.72%, down from April’s 3.06% auction outcome. The Bid to cover also decreased at today’s auction with a bid to cover ratio of 2.4, down from 2.73 in April.

David Cornes holds a degree in economics from the University of Montana.