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
Dow Surges 238 on Energy Gains
Specialist Neil Gallagher, left, and trader Gordon Charlop work on the floor of the New York Stock Exchange, Monday, Nov. 16, 2015.    (Richard Drew)

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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