US stock markets soar on recovering oil prices



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Dow Jones Industrial Average

Last Updated at 13 Apr 2018, 15:06 GMT *Chart shows local time Dow Jones intraday chart
value change %
24402.86 -
-80.19
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-0.33

Top winner and loser

General Electric Co.

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JP Morgan Chase & Co.

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Nasdaq Index

7099.00 -
-41.25
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-0.58

S&P 500 Cash Index - Chicago Mercantile Exchange

2658.31 -
-5.68
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-0.21

(Close): Wall Street closed higher as the oil price rally continued.

Hopes that Greece could reach an agreement with its European partners on restructuring its debts also helped to boost US markets.

The Dow Jones gained 305.36 points, or 1.8%, to 17,666.40, with energy companies leading the way.

Exxon Mobil closed up nearly 3% the day after posting an expected fall in quarterly earnings. And Chevron gained 3.3%.

No companies on the Dow closed down.

Construction equipment maker Caterpillar was the biggest riser, gaining nearly 4%.

The tech-heavy Nasdaq closed up 51.05 points, or 1.1%, to finish at 4,727.74, while the S&P 500 added 29.18 points, or 1.44%, to close at 2,050.03.

After sharp rises on Monday, Brent crude rose 5.2% to $57.58 a barrel, while US oil rose 5.7% to $52.48.

On the currency markets, the dollar lost ground against the euro, falling seven-tenths of a cent to 87.44 cents.