Dow Spikes by Triple Digits
Tech, energy stocks lead the way
By Newser Editors and Wire Services
Posted May 16, 2016 3:24 PM CDT
Traders Jonathan Corpina, left, and Kevin Lodewick work on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew)

(Newser) – Solid gains in energy and technology stocks led Wall Street higher on Monday, breaking a three-day losing streak, the AP reports. Oil companies rallied Monday after the price of crude oil climbed 3%. Marathon Oil jumped 4% and Devon Energy also rose 4%. Apple led tech stocks higher with a 4% gain after Warren Buffett's Berkshire Hathaway disclosed it had taken a stake in the company. The Dow Jones industrial average rose 175 points, or 1%, to 17,710. The Standard & Poor's 500 index rose 20 points, or 1%, to 2,066. The Nasdaq composite index gained 57 points, or 1.2%, to 4,775. Bond prices fell. The yield on the 10-year Treasury note rose to 1.75%.

 

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