NEW YORK, N.Y. – U.S. stocks are rising as energy prices turn higher and as results come in for the midterm elections.
Devon Energy jumped 9 per cent in midday trading Wednesday and Chesapeake Energy rose 6 per cent. Both reported earnings that were better than Wall Street analysts were expecting.
The Standard & Poor’s 500 index rose eight points, or 0.4 per cent, to 2,020 as of 11:55 a.m. Eastern time.
The Dow Jones industrial average rose 74 points, or 0.4 per cent, to 17,457. The Nasdaq composite gained three points, or 0.1 per cent, to 4,626.
U.S. crude oil rose $1.06 to $78.25 a barrel in New York. It was the first gain for the price of oil in five days.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.36 per cent.
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