Markets Right Now: Stocks end modestly higher

NEW YORK, N.Y. – The latest on developments in global financial markets (all times local):

4:00 p.m.

Stocks are ending modestly higher on Wall Street, led by energy companies as the price of crude oil climbs.

Oil rig operator Transocean jumped 5.7 per cent Wednesday, one of the biggest gains in the Standard & Poor’s 500 index.

The price of crude oil rose 2.6 per cent to $51 a barrel in New York.

Among banks, Morgan Stanley and M&T Bank each rose 1.9 per cent after reporting earnings that beat analysts’ forecasts.

The Dow Jones industrial average rose 40 points, or 0.2 per cent, to 18,202.

The S&P 500 index rose 4 points, or 0.2 per cent, to 2,144. The Nasdaq composite edged up 2 points, or 0.1 per cent, to 5,246.

Bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 1.74 per cent.