Bloomberg News

U.S. Stocks Erase Declines as Oil Drives Fuel Producers Higher

July 05, 2011

July 5 (Bloomberg) -- U.S. stocks erased declines, led higher by energy producers, as oil’s rally to a three-week high was enough to overcome Portugal losing its investment-grade credit rating at Moody’s Investors Service.

The Standard & Poor’s 500 Index rose 0.1 percent to 1,340.40 at 3:25 p.m. in New York. It slumped as much as 0.4 percent earlier. Energy stocks in the measure rallied 0.7 percent as crude climbed 2.1 percent to $96.89 a barrel.

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus