Rite Aid & Hertz Drive Higher as Stocks Add to Gains on Fed Oil

Stocks climbed higher and added to gains in midday trading Thursday, a day after the Federal Reserve said it can be 'patient' about when it will make the first rate hike and signs of oil prices stabilizing. All the major markets rose better than 1%. The Conference Board's leading index rose 0.6% in November, economist were expecting 0.5%. But the services sector grew at a slower rate. Markit's Purchasing Managers Index fell in December to 53.6 and was much below economists' expectations of 56.9. Earnings results pushed Rite Aid (RAD) up nearly 12%. The drugstore chain topped Wall Street's expectations and raised its full year guidance. Hertz (HTZ) is moving higher after investor Carl Icahn upped his stake in the car-rental company.