US stocks rise at midday as energy companies climb
NEW YORK (AP) - U.S. stocks are moving higher at midday as investors weigh a rebound in home construction, higher oil prices and a mix of corporate earnings reports.
The Standard & Poor's 500 index rose 13 points, or 0.7 percent, to 2,036 as of 11:57 a.m. Eastern time Wednesday. The Dow Jones industrial average climbed 56 points, or 0.3 percent, to 17,571. The Nasdaq gained 28 points, or 0.6 percent, to 4,682.
Stocks of energy companies rose the most among the 10 sectors in the S&P 500, as the price of benchmark U.S. crude oil climbed 3 percent to $47.92 a barrel.
European markets were mostly higher as investors awaited the European Central Bank's decision Thursday on another wave of economic stimulus.
Traders write orders on their handheld devices as they work on the floor of the New York Stock Exchange Wednesday, Jan. 21, 2015. The U.S. stock market is mixed in early trading after two straight days of gains. (AP Photo/Richard Drew)
The Associated Press
Trader Edward Curran, right, works on the floor of the New York Stock Exchange Wednesday, Jan. 21, 2015. The U.S. stock market is mixed in early trading after two straight days of gains. (AP Photo/Richard Drew)
The Associated Press
Traders Greg Mulligan, left, John Doherty work on the floor of the New York Stock Exchange Wednesday, Jan. 21, 2015. The U.S. stock market is mixed in early trading after two straight days of gains. (AP Photo/Richard Drew)
The Associated Press
Trader Gregory Rowe, right, stops at the post that handles IBM on the floor of the New York Stock Exchange, Wednesday, Jan. 21, 2015. IBM's fourth-quarter net income dropped 11 percent as revenue in most categories continued to decline, and its outlook for the year disappointed investors. (AP Photo/Richard Drew)
The Associated Press
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