Energy companies lead moderate gains in US stocks as price of oil recovers; earnings roll in

Energy Associated Press

U.S. stocks are closing mostly higher, led by gains in energy companies as the price of oil recovers.

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The market moved between small gains and losses in the morning Tuesday, then headed gradually higher in the afternoon.

Company earnings came in mixed. JPMorgan Chase rose after reporting higher first-quarter earnings, but Wells Fargo fell after its earnings declined.

The Dow Jones industrial average rose 59 points, or 0.3 percent, to 18,036.

The Standard & Poor's 500 rose three points, or 0.2 percent, to 2,095. The Nasdaq composite fell 10 points, or 0.2 percent, to 4,977.

The price of oil rose on indications that U.S. oil production in places like North Dakota is beginning to slip.

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U.S. benchmark crude rose $1.38 to $53.29 a barrel in New York.