Dow Ends Day Up 140
Energy stocks led today's rally
By Newser Editors and Wire Services
Posted Sep 16, 2015 3:15 PM CDT
A visitor to the financial district walks past the New York Stock Exchange, Wednesday, Sept. 16, 2015. Stocks edged higher in midday trading Wednesday as investors wait to hear from the Federal Reserve...   (Mary Altaffer)
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(Newser) – Energy stocks led a rally on the stock market as the price of oil turned sharply higher. The Dow gained 140 points, or 0.8%, to close at 16,739 today. The Standard & Poor's 500 rose 17 points, or 0.9%, to 1,995. The Nasdaq composite climbed 28 points, or 0.5%, to 4,889. The price of oil jumped almost 6% following a drop in crude inventories last week that was much steeper than analysts were expecting.

Chevron and Exxon Mobil were among the biggest gainers in the Dow Jones industrial average. Anheuser-Busch InBev jumped 7% after the company made a takeover approach to SABMiller, the owner of Miller and Peroni. Other beer makers also rose. The yield on the 10-year Treasury note held steady at 2.29%.