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Markets Close Modestly Higher

Dow, S&P 500, Nasdaq all end the day slightly up
By Newser Editors and Wire Services
Posted Apr 20, 2016 3:11 PM CDT
Markets Close Modestly Higher
New York Stock Exchange floor governor Rudy Maas, left, calls out prices during the IPO of MGM Growth Properties on the floor of the NYSE, Wednesday, April 20, 2016.   (Richard Drew)

(Newser) – Stocks are closing with modest gains on Wall Street after a midday rally lost steam, the AP reports. Banks and energy companies rose more than the rest of the market Wednesday. Both sectors got some relief after the price of crude oil turned higher. Banks have been in the doldrums as investors worry that loans to struggling oil companies could go bad. Chesapeake Energy jumped 5%. Discover Financial rose 8%. The price of crude oil shook off an early slide and closed up 4%. The Dow Jones industrial average rose 42 points, or 0.2%, to 18,096. The Standard & Poor's 500 index edged up a point to 2,102. The Nasdaq composite climbed seven points, or 0.2%, to 4,948. (Read more Dow Jones stories.)

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