US stocks rise as oil prices surge
(Closed): Wall Street stocks rose on Friday, despite concerns about corporate earnings, boosted by a surge in the price of crude oil.
The Dow Jones Industrial Average rose 35 points, or 0.2%, to 17576.96.
Crude prices rose 6% on Friday, sending the stocks of petroleum producers up. Brent crude reached $41.75 a barrel, while US crude stood at $39.53.
Pfizer shares fell 0.79%. The drug maker announced on Wednesday, it was abandoning its plan to buy Botox-maker Allergan after the US Treasury Department released plans for regulations that would make the deal less valuable.
Department store Nordstrom fell 2.5%.