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.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below