Markets Right Now: Energy stocks lead slight gains in US

AP News
|
Posted: Mar 15, 2017 12:02 PM

NEW YORK (AP) — The latest on developments in financial markets (All times local):

11:45 a.m.

A turnaround in oil and other commodity prices helped lift stocks indexes to modest gains on Wall Street.

Trading was relatively subdued ahead of a decision on interest rates later Wednesday from the Federal Reserve.

The Fed is widely expected to raise rates for just the third time in 15 months as the economy improves. Investors will be watching for hints about the Fed's plans for more rate increases in the future.

The price of oil turned higher.

Southwestern Energy gained 3.8 percent.

The Standard & Poor's 500 index rose 8 points, or 0.4 percent, to 2,373.

The Dow Jones industrial average gained 49 points, or 0.2 percent, to 20,885. The Nasdaq edged up 11 points, or 0.2 percent, to 5,868.

___

9:35 a.m.

Stocks are opening slightly higher on Wall Street as materials and energy companies lead the way.

The price of oil turned higher in early trading Wednesday, which helped send energy companies higher.

Occidental Petroleum rose 1.7 percent.

Hostess Brands rose 1 percent after the company gave solid forecasts for full-year revenue and earnings.

The Standard & Poor's 500 index rose 4 points, or 0.2 percent, to 2,369.

The Dow Jones industrial average gained 32 points, or 0.2 percent, to 20,870. The Nasdaq edged up 5 points, or 0.1 percent, to 5,862.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.58 percent.