NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are rising early Thursday as a jump in the price of oil boosts energy companies.
U.S. oil rose 3.3% after two oil tankers near the strategic Strait of Hormuz were damaged in suspected attacks. Brent crude, the international benchmark, gained 3.6%. Oil prices had been falling on signs demand is declining.
Exxon and Chevron each rose over 1%. Operators of oil drilling rigs also posted gains. Helmerich & Payne rose 2%.
Tyson Foods rose 2.3% after saying it plans to sell chicken nuggets made from pea protein and a burger than is part pea protein part beef.
The S&P 500 index rose 13 points, or 0.5%, to 2,892.
The Dow Jones Industrial Average gained 127 points, or 0.5%, to 26,132. The Nasdaq rose 46 points, or 0.6%, to 7,839.