Stocks gain steadily after early dip

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.