US stocks gain, led by energy sector as price of oil climbs

AP News
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Posted: Dec 29, 2015 9:45 AM
US stocks gain, led by energy sector as price of oil climbs

U.S. stocks are opening broadly higher as the market erases the losses it suffered over the previous two days.

The early gains Tuesday were led by energy companies as oil prices rose. The market is the highest it's been in two weeks.

The Dow Jones industrial average gained 162 points, or 1 percent, to 17,697 as of 9:35 a.m.

The Standard & Poor's 500 index rose 17 points, or 0.8 percent, to 2,073. The Nasdaq climbed 37 points, or 0.7 percent, to 5,078.

The early gain nudged the S&P 500 index back into the black for the year.

The price of crude oil gained 2 percent to almost $38 a barrel in New York.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.26 percent.