Markets Right Now: US stocks close solidly higher

AP News
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Posted: Oct 10, 2016 4:03 PM

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

4:00 p.m.

Stocks are ending higher, led by gains in energy companies as the price of crude oil rose to its highest level in more than a year.

The price of crude jumped above $51 a barrel Monday after Russia said it supports efforts by OPEC to cut production. That's the highest level since July 2015.

Apple climbed, leading the technology sector higher, after new reports of fires affecting Samsung's Galaxy Note 7 phone, which competes with Apple's iPhone.

The Dow Jones industrial average rose 88 points, or 0.5 percent, to 18,329.

The Standard & Poor's 500 index gained 9 points, or 0.5 percent, to 2,163. The Nasdaq composite climbed 36 points, or 0.7 percent, to 5,328.

Bond trading was closed for the Columbus Day holiday.

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11:45 a.m.

Stocks are climbing in midday trading, led by energy companies as the price of crude oil rises to its highest level in more than a year.

Exxon Mobil rose 2 percent Monday, one of the biggest gains in the Dow Jones industrial average.

Apple rose 2 percent after new reports of fires affecting Samsung's Galaxy Note 7 phone, which competes with Apple's iPhone.

Mylan jumped 9 percent after the drugmaker said late Friday it would pay $465 million to settle allegations that it overbilled the government for EpiPens.

The Dow rose 122 points, or 0.7 percent, to 18,362.

The Standard & Poor's 500 gained 12 points, or 0.6 percent, to 2,166. The Nasdaq climbed 42 points, or 0.8 percent, to 5,334.

Bond trading was closed for the Columbus Day holiday.

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9:35 a.m.

Stocks are opening solidly higher on Wall Street, led by gains in energy companies as the price of crude oil climbs.

Exxon Mobil rose 1.7 percent in early trading Monday, one of the biggest gains in the Dow Jones industrial average.

Materials companies were also higher. DuPont rose 1.4 percent.

Mylan jumped 11 percent after the drugmaker said late Friday it would pay $465 million to settle allegations that it overbilled the government for its life-saving EpiPen allergy treatment.

The Dow Jones industrial average rose 128 points, or 0.7 percent, to 18,367.

The Standard & Poor's 500 index gained 12 points, or 0.6 percent, to 2,166. The Nasdaq composite climbed 36 points, or 0.7 percent, to 5,328.

Bond trading was closed in the U.S. for the Columbus Day holiday.