Dow Surges 238 on Energy Gains

Oil rises 3% to $41 a barrel
By Newser Editors and Wire Services
Posted Nov 16, 2015 3:22 PM CST
Specialist Neil Gallagher, left, and trader Gordon Charlop work on the floor of the New York Stock Exchange, Monday, Nov. 16, 2015.    (Richard Drew)

(Newser) – The stock market is closing solidly higher, led by gains in energy companies as the price of oil turned higher after a recent slump. The Dow Jones industrial average gained 238 points, or 1.4%, to 17,482 Monday. The Standard & Poor's 500 index increased 30 points, or 1.5%, to 2,053. The Nasdaq composite climbed 56 points, or 1.2%, to 4,984. Energy companies rose much more than the rest of the market as the price of oil increased 3% to $41 a barrel. Chevron jumped 4%.

Defense contractors rose and travel and airlines companies fell as traders responded to the terrorist attacks in Paris. Raytheon and Northrup Grumman each rose 4% while Delta Air Lines declined 2%. (Read more stocks stories.)

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