Energy Stocks Lead Broad Rally as Oil Price Soars

It was the first weekly gain for stocks in a month
By Newser Editors and Wire Services
Posted Jan 22, 2016 3:30 PM CST
A trader smiles as he follows prices before the opening bell at the New York Stock Exchange, Friday, Jan. 22, 2016.    (Mark Lennihan)
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(Newser) – Stocks are closing out their first weekly gain in four weeks, led by a surge in energy and technology stocks. Oil stocks soared Friday after the price of crude jumped 9%, clawing back more of the ground it has lost since the beginning of the year. Apple led a broad rally in tech shares, posting a gain of 5%. Microsoft and Facebook also rose sharply.

The Dow Jones industrial average rose 210 points—or 1.3%—to 16,093. The Standard & Poor's 500 index rose 37 points—or 2%—to 1,906. The Nasdaq composite climbed 119 points—or 2.7%—to 4,591. (Read more stock market stories.)

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