home Finance, Headline News, Oil Prices, Oil Stocks Crude oil jumps, pushing stocks higher

Crude oil jumps, pushing stocks higher

Stocks are jumping Monday as the price of oil surges, lifting energy stocks. Mining and chemicals companies and banks are also climbing. The stock market is coming off its best week of the year.

The Dow Jones industrial average was up 204 points, or 1.2%, to 16,595 as of 10:27 a.m. Eastern time. The Standard & Poor’s 500 index rose 26 points, or 1.3%, to 1,943. The Nasdaq composite advanced 60 points, or 1.3%, to 4,563. Last week was the best of the year for U.S. stocks.

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