Stocks open higher, led by energy sector as oil price rises

NEW YORK (AP) — Higher oil prices and some positive earnings news from U.S. companies are helping to send the stock market higher in early trading.

Energy stocks were leading the early gains on Wall Street Tuesday as the price of oil rose 1 percent to $30 a barrel.

In earnings news, 3M rose 4 percent and specialty glass maker Corning increased 2 percent after reporting results that were better than analysts were expecting.

The Dow Jones industrial average rose 127 points, or 0.8 percent, to 16,018 in early trading.

The Standard & Poor’s 500 index climbed 10 points, or 0.5 percent, to 1,886. The Nasdaq composite added six points, or 0.1 percent, to 4,524.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.02 percent.

 

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

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