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Buoyed by Oil, Dow Closes Up 88

Apple moves higher based on Samsung's phone woes
By Newser Editors and Wire Services
Posted Oct 10, 2016 3:16 PM CDT
Buoyed by Oil, Dow Closes Up 88
In this Friday, Oct. 7, 2016, photo, a statue of George Washington is poised above Wall Street, in New York. US stocks are rising early Monday, Oct. 10, 2016, as Apple is leading technology stocks higher as Samsung’s Galaxy Note 7 is beset by new problems.   (AP Photo/Mark Lennihan)

(Newser) – Stocks are ending higher, led by gains in energy companies as the price of crude oil rose to its highest level in more than a year, reports the AP. The price of crude jumped above $51 a barrel Monday after Russia said it supports efforts by OPEC to cut production. That's the highest level since July 2015. Apple climbed, leading the technology sector higher, after new reports of fires affecting Samsung's Galaxy Note 7 phone, which competes with Apple's iPhone. The Dow Jones industrial average rose 88 points, or 0.5%, to 18,329. The Standard & Poor's 500 index gained 9 points, or 0.5%, to 2,163. The Nasdaq composite climbed 36 points, or 0.7%, to 5,328. Bond trading was closed for the Columbus Day holiday. (Read more stock market stories.)

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