Wall Street rises with oil prices, earnings optimism

Wall Street rises with oil prices, earnings optimism

The S&P energy sector jumped more than 2 percent as Brent crude (LCOc1) rose above $70 a barrel for the first time since December 2014, boosted by a surprise drop in U.S. production and lower crude inventories. The industrial index was helped by airlines after an upbeat forecast from No. 2 U.S. carrier Delta Air Lines (DAL.N). At 2:51 p.m., the Dow Jones Industrial Average (.DJI) rose 138.1 points, or 0.54 percent, to 25,507.23, the S&P 500 (.SPX) gained 13.76 points, or 0.5 percent, to 2,761.99, and the Nasdaq Composite (.IXIC) added 43.16 points, or 0.6 percent, to 7,196.73.

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