Energy stocks lead a turnaround on Wall Street

Dow and S&P 500 edge higher as energy stocks rebound; focus on big-name earnings news

Associated Press
Stocks edge higher as energy stocks rebound
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Traders work on the floor at the New York Stock Exchange in New York, Monday, April 22, 2013. Stocks edged lower on Wall Street at the start of a big week for company earnings. About a third of the companies in the S&P 500, including Exxon Mobil and Apple, are reporting earnings this week. Analysts currently expect earnings to rise by 2 percent in the first quarter, down from the 7.7 percent increase in the fourth quarter, according to S&P Capital IQ. (AP Photo/Seth Wenig)

NEW YORK (AP) -- Stocks are closing modestly higher on Wall Street, led by energy companies as oil prices rise back following a plunge last week.

Investors were focusing on earnings news from major U.S. companies.

About a third of the companies in the Standard & Poor's 500 index report earnings this week. Halliburton and Hasbro rose after reporting results that were better than analysts were expecting.

The Dow Jones industrial average rose 20 points to close at 14,567, a gain of 0.1 percent.

The S&P 500 increased seven points to 1,562, or 0.5 percent. The Nasdaq composite rose 27 points, or 0.9 percent, to 3,233 points.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume was lower than usual, 2.9 billion shares.

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