Markets Right Now: Stocks up as oil jumps on tanker attack

Business
John Parisi

FILE- In this June 6, 2019, file photo specialist John Parisi, left, works with traders on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Thursday, June 13. (AP Photo/Richard Drew, File)

NEW YORK (AP) — The latest on developments in financial markets (all times local):

9:35 a.m.

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.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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