Belfast Telegraph

US stocks rise broadly, led by energy sector gains

US stocks closed higher on Wall Street, led by big gains in oil and gas companies as energy prices climb.

Southwestern Energy jumped 15% Tuesday and Marathon Oil increased 12%.

The price of US crude oil rose 4.5% and natural gas rose 4% in New York.

Earnings did not get off to a promising start for US companies. Aluminium maker Alcoa sank 3% after reporting revenue that fell short of analysts' forecasts.

The Dow Jones industrial average rose 164 points, or 0.9%, to 17,721.

The Standard & Poor's 500 index gained 19 points, or 1%, to 2,061. The Nasdaq composite added 38 points, or 0.8%, to 4,872.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.77%.

Popular