Business

US stocks climb in early trading, led by energy companies

Posted October 07, 2015 7:00 am

The Associated Press

NEW YORK (AP) - U.S. stocks are opening higher, led by another advance in energy companies as crude oil prices continue to recover.

Chevron jumped 2 percent early Wednesday, the biggest gain in the Dow Jones industrial average.

KFC owner Yum Brands plunged 16 percent after the company cut its profit forecast for the year, citing weakness in its China operations. The company also owns Pizza Hut and Taco Bell.

The Dow Jones industrial average rose 113 points, or 0.7 percent, to 16,905 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 gained 11 points, or 0.6 percent, to 1,991. The Nasdaq composite climbed 17 points, or 0.4 percent, to 4,765.

The price of oil increased 2 percent to $49 a barrel.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.07 percent.

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