Few Clouds 38° Good Afternoon
Few Clouds 38° Good Afternoon

Stocks gain steadily after early dip

Stocks dipped when markets opened Tuesday, Nov. 3,

Stocks dipped when markets opened Tuesday, Nov. 3, 2015, as investors awaited crucial U.S. economic data. These pedestrians are outside the New York Stock Exchange on Monday. Photo Credit: Bloomberg / Michael Nagle

Stock indexes shook off the early morning dip and climbed Tuesday as investors worked through a raft of corporate news and prepared for key U.S. economic data later this week.

Energy companies advanced for a second day along with the rising price of oil.

At midafternoon on Wall Street, the Dow Jones industrial average was up 140.7 points, about 0.8 percent, at 17,969.5. The Standard & Poor's 500 index gained nearly 11 points, about 0.5 percent, to 2,114.7. The Nasdaq composite added 33.5 points, about 0.7 percent, to 5,160.5.

CRUDE ENERGY: About the same time, the price of U.S. benchmark crude oil rose $2.08, about 4.5 percent, to $48.22 a barrel on the New York Mercantile Exchange. Among individual stocks, Exxon Mobil rose $1.83, or 2 percent, to $87.08 and Chevron rose $2.83, or 3 percent, to $97.77.

EARNINGS: American International Group fell $2.73, or 4 percent, to $61.01. The financial and insurance conglomerate posted a loss in the third quarter, blaming market volatility earlier this year. The company also pushed back on activist investors who want to break up the company.

MAKING MOVES: King Digital Entertainment, the publisher of the Candy Crush Saga video game, jumped $2.27, or 15 percent, to $17.81 after Activision Blizzard announced it would buy the company for $5.9 billion. Activision Blizzard rose $1.63, or 5 percent, to $36.21.

VW'S WOES PERSIST: Volkswagen slid after U.S. environmental officials said the company equipped more models than previously thought with software that let the cars cheat on diesel emissions tests. The company's shares fell 2 percent in European trading.

More news