Dow Jones industrial average rises 0.8%, Standard & Poor’s 500 index adds 0.9%New York: US stocks rose in midday trading on Monday, led by gains in energy companies as the price of crude oil increased sharply. “If it’s oil making headline news, stocks will trade off of oil,” said Anna Rathbun, director of research for investment manager CBIZ Retirement Plan Services. Benchmark US crude rose $1.49, or 3.2%, to $47.70 a barrel following news of continued production troubles in Nigeria and an upbeat forecast from Goldman Sachs. The Dow Jones industrial average rose 144 points, or 0.8%, to 17,680 at 12:05 pm Eastern time. They expect the US crude to rise to about $50 a barrel in the second half of this year.

Source: Mint May 16, 2016 11:33 UTC