U.S. Stocks Close Higher As Oil Gain Boosts Energy Stocks

By Wallace WitkowskiMarketsMarketWatch Pulse

U.S. stocks closed higher for a second day in a row Wednesday as oil prices jumped on a reported crude inventories decline. The Dow Jones Industrial Average surged 145.46 points, or 0.8%, to close at 17,851.51. The S&P 500 Index advanced 14.48 points, or 0.7%, to finish at 2,090.54, led by gains in the energy and materials sectors. The Nasdaq Composite Index closed up 33.84 points, or 0.7%, at 4,894.89. Crude prices settled up 1.9% to $49.56 a barrel Wednesday, their highest level since October.

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