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Rising oil, commodity prices pull US stocks higher

Rising oil, commodity prices pull US stocks higher

Strong energy prices are boosting hopes for the economy.
Energy, industrial and materials stocks pulled the market higher in light trading Monday as investors looked to put money into areas that would benefit from an economic recovery.
Crude rose $2.33 to settle at $71.49 a barrel on the New York Mercantile Exchange after China said it would boost oil reserves and Nigerian militants partly shut down an offshore oil platform.
According to preliminary calculations, the Dow Jones industrial average is up 91 at 8,529. The Standard & Poor's 500 index is up 8 at 927 and the Nasdaq composite index is up 6 at 1,844.
Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 985 million shares.


Updated : 2021-04-23 14:52 GMT+08:00