Energy Stocks Lead Broad Rally as Oil Price Soars

It was the first weekly gain for stocks in a month
By Newser Editors and Wire Services
Posted Jan 22, 2016 3:30 PM CST
Energy Stocks Lead Broad Rally as Oil Price Soars
A trader smiles as he follows prices before the opening bell at the New York Stock Exchange, Friday, Jan. 22, 2016.    (Mark Lennihan)

Stocks are closing out their first weekly gain in four weeks, led by a surge in energy and technology stocks. Oil stocks soared Friday after the price of crude jumped 9%, clawing back more of the ground it has lost since the beginning of the year. Apple led a broad rally in tech shares, posting a gain of 5%. Microsoft and Facebook also rose sharply.

The Dow Jones industrial average rose 210 points—or 1.3%—to 16,093. The Standard & Poor's 500 index rose 37 points—or 2%—to 1,906. The Nasdaq composite climbed 119 points—or 2.7%—to 4,591. (More stock market stories.)

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