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Stock market makes tiny gains; oil price rises sharply

The facade of the New York Stock Exchange

The facade of the New York Stock Exchange in Manhattan on Oct. 2, 2014. Credit: AP / Richard Drew

U.S. stocks are closing slightly higher, led by an advance in energy stocks as the price of oil climbs. was among the big gainers Thursday after reporting results that beat analysts' forecasts. Best Buy was also up after reporting strong earnings.

The Dow Jones industrial average edged up a fraction of point to 18,285.

The Standard & Poor's 500 index rose five points, or 0.2 percent, to 2,130. The Nasdaq composite climbed 19 points, or 0.4 percent, to 5,090.

Oil rose $1.74, or 3 percent, to $60.72 a barrel following reports that U.S. storage levels are falling. That sent energy stocks higher. Rig operator Transocean gained 4 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.19 percent.


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