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Stocks up, fluctuating near 2-month highs

Wall Street was pensive Monday, Nov. 1, 2015,

Wall Street was pensive Monday, Nov. 1, 2015, after ending a very strong month. This trader was watching investments move early Friday, Oct. 30. Photo Credit: Getty Images / Andrew Burton

U.S. stocks fluctuated most of the day Monday near two-month highs as investors weighed corporate earnings.

Just before the close on Wall Street, the Dow Jones industrial average had risen 169.4 points, about 1 percent, to 17,832.8. The Standard & Poor's 500 index was up 25.1 points, about 1.2 percent, at 2,104.5. The Nasdaq composite added 72.3 points, about 1.4 percent, to 5,126.4.

CRUDE ENERGY: About the same time, the price of U.S. benchmark crude oil slipped 51 cents, about 1.1 percent, to $46.08 a barrel in trading on the New York Mercantile Exchange.

STRONG GAINS: Energy and raw-material companies -- two of the strongest groups since September -- added to their gains in the month's final session, with Exxon Mobil Corp. and Chevron Corp. rising after posting better-than- expected earnings.

ANALYST'S OPINION: "Recent Fed comments have been a little more hawkish, and we didn't get further easing from the Bank of Japan," said Matt Maley, an equity strategist at Miller Tabak & Co. in Manhattan. "It's not like the market is falling out of bed, but when you combine that with how much we've been up lately, it gives us an excuse to pull back. We just had this huge rally -- pulling back is normal and healthy."

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