Summary Box: Commodities rally lifts stocks

AP News
Posted: May 18, 2011 5:15 PM
Summary Box: Commodities rally lifts stocks

FED MINUTES: Stock indexes built on morning gains after the Federal Reserve released minutes that showed that officials agreed that the economy is improving, which could lead to higher demand for raw materials like steel and fertilizer.

OIL JUMPS: Oil gained nearly 4 percent to move back above $100 a barrel, due in part to a Dept. of Energy report that inventories of crude oil did not rise last week as expected.

THE INDEXES: The Dow added 80.60 points, or 0.6 percent, to close at 12,560.18. The S&P index rose 0.9 percent to 1,340.68. The Nasdaq gained 1.1 percent to 2,815.