Wall Street posted moderate gains Monday, as higher oil prices lifted energy producers.
Crude rose to 71.49 U.S. dollars a barrel on the New York Mercantile Exchange after Nigerian militants partly shut down an offshore oil platform. Exxon Mobil Corp. and ConocoPhillips increased as crude prices climbed.
J.C. Penney Co. gained nearly 3 percent after Morgan Stanley raised its recommendation for the third-largest U.S. department-store chain to "overweight."
Shares of home builders also pulled the market after Credit Suisse raised its rating on KB Home, citing stronger orders and more attractive valuation. The Dow Jones U.S. home construction index advanced 1.5 percent.
The Dow Jones industrial average rose 90.99, or 1.1 percent, to 8,529.38. The S&P 500 index rose 8.33, or 0.9 percent, to 927.23, while the Nasdaq composite index rose 5.84, or 0.3 percent, to 1,844.06.
Source: Xinhua
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