NEW YORK, N.Y. – Gains in energy companies are leading the U.S. stock market to a higher close.
General Motors rose Tuesday after reporting stronger sales, and Biogen, a biotech company, soared following news that its drug for Alzheimer’s disease showed promise.
Avanir Pharmaceuticals soared 13 per cent on news that Otsuka Pharmaceuticals of Japan plans to buy the company
The Dow Jones industrial average rose 102 points, or 0.6 per cent, to 17,879.
The Standard & Poor’s 500 index rose 13 points, or 0.6 per cent, to 2,066. The Nasdaq composite rose 28 points, or 0.6 per cent, to 4,755.
Chevron and Exxon Mobil rose the most in the Dow, even as the price of crude oil resumed its decline.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.29 per cent.