Stocks Rise Again, Though Energy Tanks

Dow ends day up 207
By Newser Editors and Wire Services
Posted Jun 5, 2019 3:14 PM CDT
Stocks Rise Again, Though Energy Tanks
In this May 29, 2019, file photo specialists James Denaro, left, and Mario Picone work on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

Stocks are closing broadly higher on Wall Street Wednesday, although a sharp drop in the price of oil tempered the gains, the AP reports. Energy shares fell as the price of oil plunged 3.4% following a report showing an unexpected surge in US supplies. Exxon Mobil fell 0.8% and Halliburton fell 3.5%. The S&P 500 index added 22 points, or 0.8%, to 2,826. The index's 2.1% gain Tuesday was its best performance since January. GameStop plummeted almost 36% after the videogame maker badly missed sales estimates in the first quarter. Investors also snapped up health care stocks. UnitedHealth Group rose 0.8%. The Dow Jones industrials rose 207 points, or 0.8%, to 25,539. The Nasdaq gained 48 points, or 0.6%, to 7,575. (Read more stock market stories.)

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