U.S. Stocks Close Higher As Oil Jumps

By Markets MarketWatch Pulse

U.S. stocks closed higher Wednesday as oil prices surged on reports of an OPEC deal that would freeze production. The Dow Jones Industrial Average closed up 110.94 points, or 0.6%, to 18,339.24, with shares of ExxonMobil Corp. and Caterpillar Inc. closing up more than 4%. The S&P 500 index finished up 11.44 points, or 0.5%, at 2,171.37, with the energy sector jumping 4.3%. The Nasdaq Composite index gained 12.84 points, or 0.3%, to close at 5,318.55. Oil prices settled up 5.3% at $47.05 on Wednesday.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.