US stock indexes gain in quiet trading; oil price surges

AP News
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Posted: Apr 06, 2015 4:12 PM
US stock indexes gain in quiet trading; oil price surges

NEW YORK (AP) — U.S. stocks are closing higher, led by gains in energy shares as the price of crude oil surges.

The Dow Jones industrial average rose 117 points, or 0.7 percent, to 17,880 on Monday.

The Standard & Poor's 500 index gained 13 points, or 0.7 percent, to 2,080. The Nasdaq composite gained 30 points, or 0.6 percent, to 4,917.

Energy stocks had some of the biggest gains. Rig operator Transocean soared 10 percent.

Oil rose 6 percent to $52.14 a barrel in New York.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.90 percent.

Volume was relatively light. Many overseas markets were closed for holidays.