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Energy stocks lead a turnaround on Wall Street

6:06 AM, Apr 23, 2013   |    comments
A trader stands outside the New York Stock Exchange as people return to work on Wall Street October 31, 2012.(Photo: TIMOTHY A. CLARY AFP/Getty Images)
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NEW YORK (AP) - Investors will have their eyes on a batch of earnings reports scheduled to be released today.

About a third of the companies in the S&P 500 index, including Exxon Mobil and Apple, will report earnings this week. The reports have been good so far, but concerns remain about the outlook for the rest of the year.

Stocks edged higher on Monday as energy stocks got a lift from recovering oil prices. The Dow rose 20 points to close at 14,567. The S&P 500 increased seven points to 1,562, while the Nasdaq composite added 27 points to 3,233.

The energy industry climbed 1 percent, making it the biggest gainer in the S&P 500. Oil rose 75 cents to $88.76 a barrel Monday. A week ago, crude fell below $90 a barrel for the first time this year after reports that China's economic growth slowed.

Associated Press

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