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
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)

(Newser) – 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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