NEW YORK (AP) — U.S. stocks are rising in midday trading, led by big gains in oil and gas companies as the price of crude moves higher.
Drilling rig operator Transocean jumped 3 percent in early trading Wednesday, and Hess rose 4 percent.
The Dow Jones industrial average was up 130 points, or 0.8 percent, to 17,545 as of 11:45 a.m. Eastern time.
The Standard & Poor’s 500 index climbed 17 points, or 0.9 percent, to 2,056. The Nasdaq composite increased 31 points, or 0.6 percent, to 5,033.
The price of crude oil rose 3 percent to $37 a barrel in New York.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.26 percent.
Trading was subdued ahead of the Christmas holiday on Friday. Markets will close early on Thursday.
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