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VOL. 40 | NO. 39 | Friday, September 23, 2016
Stocks end higher, led by energy sector
NEW YORK (AP) — Stocks are closing solidly higher after energy companies soared along with the price of crude oil.
Energy stocks had their biggest one-day gain since January Wednesday after the price of crude jumped 5 percent on reports that OPEC nations had agreed to production cuts.
Nine of the 10 biggest gainers in the Standard & Poor's 500 index were energy companies, led by an 11 percent surge in Murphy Oil.
Mattress maker Tempur Sealy plunged 22 percent after delivering a weak forecast.
The Dow Jones industrial average rose 110 points, or 0.6 percent, to 18,339.
The S&P 500 gained 11 points, or 0.5 percent, to 2,171. The Nasdaq composite increased 12 points, or 0.2 percent, to 5,318.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.57 percent.