Stocks Rebound as US Confidence Improves

The rising price of oil also helped
By Newser Editors and Wire Services
Posted Dec 29, 2015 3:24 PM CST
Stocks Rebound as US Confidence Improves
US stocks closed broadly higher on Tuesday.   (Seth Wenig)

US stocks closed broadly higher on Tuesday as traders were encouraged by a pickup in consumer confidence and rising prices for energy. Chesapeake Energy jumped 13% Tuesday and Consol Energy rose 5%. Among retailers, Kohl's climbed 3%. The gains put the Standard & Poor's 500 index back into the black for the year.

The Dow Jones industrial average rose 192 points—or 1.1%—to 17,720. The S&P 500 index rose 21 points—also 1.1%—to 2,078. The Nasdaq composite climbed 66 points—or 1.3%—to 5,107. The price of crude oil increased 3% to almost $38 a barrel in New York. (Read more stock market stories.)

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