Stocks, Oil Jump Together

By Kevin Spak,  Newser Staff
Posted Jun 10, 2009 8:49 AM CDT
Traders work on the floor of the New York Stock Exchange Thursday, May 14, 2009.   (AP Photo/Richard Drew)
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(Newser) – Stocks jumped at the open today, with the Dow up 61 points, the Nasdaq adding 0.5%, and the S&P gaining 0.7%, powered by strong moves in its energy and basic materials sectors. That was due in part to the surge in fuel prices, with oil clearing $71 a barrel. Chevron and Exxon Mobil each rose 1%. Shares in industrial companies also climbed, with Caterpillar up 1.3%. If it holds, the Dow's move will put it in positive territory for the year.