{"id":7710,"date":"2017-05-15T13:06:49","date_gmt":"2017-05-15T18:06:49","guid":{"rendered":"http:\/\/nrgibroker.com\/?p=7710"},"modified":"2017-05-22T15:00:24","modified_gmt":"2017-05-22T20:00:24","slug":"wall-st-rises-as-oil-price-jump-boosts-energy-shares","status":"publish","type":"post","link":"https:\/\/nrgibroker.com\/en\/wall-st-rises-as-oil-price-jump-boosts-energy-shares\/","title":{"rendered":"Wall St. rises as oil price jump boosts energy shares"},"content":{"rendered":"

Tanya Agrawal<\/em><\/span><\/h4>\n

\u00a0\u201cU.S. stocks opened higher on Monday as a rise in oil prices boosted energy stocks, soothing some nerves following a massive cyber attack that locked up 200,000 computers in more than 150 countries.
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Oil hit a three-week high after top exporters Saudi Arabia and Russia said supply cuts needed to last into 2018, a step toward extending an OPEC-led deal to support prices for longer than originally agreed.
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Shares of oil majors Exxon (XOM.N) and Chevron (CVX.N) rose in early trading.
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“On the one hand, this is good news because we are looking at a situation where we would not have to worry oil production and its baggage for some time,” said Naeem Aslam, chief market analyst at Think Markets UK Ltd.
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“On the negative side, we think that traders are reading too much into this situation and … the current production cut has not been able to produce any substantial results so far.”
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At 9:34 a.m. ET (1334 GMT), the Dow Jones Industrial Average .DJI was up 60.64 points, or 0.29 percent, at 20,957.25, the S&P 500 .SPX was up 5.95 points, or 0.24 percent, at 2,396.85 and the Nasdaq Composite .IXIC was up 11.74 points, or 0.19 percent, at 6,132.97.
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Ten of the 11 major S&P 500 sectors were higher, with the energy index’s .SPNY 1.29 percent rise leading the advancers.
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Investors seemed to mostly shrug off fears from a successful missile test by North Korea and a cyberattack that disrupted operations at car factories, hospitals, shops and schools.
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Shares of cybersecurity firms such as Fireye (FEYE.O), Symantec (SYMC.O), Palo Alto Networks (PANW.N) and Cyberark Software (CYBR.O) were all up.
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U.S. stocks slipped on Friday, ending the week lower as tepid economic data weighed on banks and worries deepened over department stores.
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Soft retail sales and monthly inflation data on Friday raised concerns about slow economic growth.
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The tepid economic data comes on the heels of a strong quarterly earnings season. Earnings at S&P 500 companies are expected to have grown 14.5 percent in the first quarter – the best showing since 2011, according to Thomson Reuters I\/B\/E\/S.
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The NAHB Housing Market Index for May, is expected to remain unchanged at 68 from the month before. The data is expected at 10 a.m. ET.
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Tesla (TSLA.O) was down 3.6 percent at $313.30 after Morgan Stanley downgraded its rating on the electric-car maker’s stock.
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Patheon NV (PTHN.N) soared 33 percent to $34.59 after Thermo Fisher Scientific (TMO.N) said it would buy Dutch drug ingredients maker for about $5.2 billion.
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Advancing issues outnumbered decliners on the NYSE by 1,927 to 597. On the Nasdaq, 1,556 issues rose and 664 fell.
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The S&P 500 index showed nine new 52-week highs and four new lows, while the Nasdaq recorded 44 new highs and nine new lows.\u201d
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Mon May 15, 2017 | 9:54am EDT
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REUTERS <\/span><\/a><\/h4>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tanya Agrawal \u00a0\u201cU.S. stocks opened higher on Monday as a rise in oil prices boosted energy stocks, soothing some nerves following a massive cyber attack that locked up 200,000 computers in more than 150 countries. Oil hit a three-week high after top exporters Saudi Arabia and Russia said supply cuts needed to last into 2018, […]<\/p>\n","protected":false},"author":1,"featured_media":6992,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1017],"tags":[1460,1459,735,300,1458],"class_list":["post-7710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cybersecurity","tag-energy-shares","tag-exxon","tag-opec","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/7710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/comments?post=7710"}],"version-history":[{"count":0,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/7710\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media\/6992"}],"wp:attachment":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media?parent=7710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/categories?post=7710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/tags?post=7710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}