Recovering oil prices sends energy stocks higher again; Earnings gains lift Intel and CSX

MarketsAssociated Press

Higher oil prices and earnings gains are sending U.S. stock prices higher in early trading.

Intel led the Dow Jones industrial average higher early Wednesday after the chipmaker reported earnings that were higher than the same period a year earlier.

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Railroad operator CSX rose 2 percent after its own results beat estimates.

The Dow rose 91 points, or 0.5 percent, to 18,127 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 rose 10 points, or 0.5 percent, to 2,105. The Nasdaq composite added 17 points, or 0.3 percent, to 4,994.

The price of oil rose 65 cents to $53.94 a barrel in New York.

Several energy companies rose along with the price of oil. Rig operator Transocean rose 1.5 percent.