Today's Market: Energy Stocks Lead US Indexes Higher
NEW YORK – The latest on developments in financial markets (All times Eastern Standard):
Energy stocks are leading the market broadly higher in midday trading as the price of oil climbed to its highest level since 2014.
Chevron climbed 2.8 percent Thursday and Exxon Mobil rose 1.2 percent.
The price of benchmark U.S. crude was up 1.5 percent at $64 a barrel.
Trading was calmer following a wobble the day before, when a temporary rise in bond yields got investors worried.
The Standard & Poor's 500 index was on pace for its seventh gain in the last eight days.
Delta Air Lines rose 1.7 percent after reporting solid results.
The S&P 500 rose 9 points, or 0.4 percent, to 2,757.
The Dow Jones industrial average rose 114 points, or 0.4 percent, to 25,483. The Nasdaq composite rose 28 points, or 0.4 percent, to 7,182.
Stocks are rising in morning trading as the market rebounds from its first loss of the year a day earlier.
Airline and homebuilder stocks opened higher Thursday after strong quarterly reports from Delta Air Lines and KB Home.
Delta advanced 1 percent and KB Home climbed 4 percent.
Energy and industrial companies continued their strong start to the year. EOG Resources jumped 2 percent and Boeing rose 1.5 percent
The Standard & Poor's 500 rose 5 points or 0.2 percent to 2,753.
The Dow Jones industrial average rose 46 points, or 0.2 percent, to 25,416. The Nasdaq composite rose 14 points, or 0.2 percent, to 7,165.