Markets Right Now: Stocks end modestly higher

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

4:00 p.m.

Stocks are ending modestly higher on Wall Street, led by energy companies as the price of crude oil climbs.

Oil rig operator Transocean jumped 5.7 percent Wednesday, one of the biggest gains in the Standard & Poor's 500 index.

The price of crude oil rose 2.6 percent to $51 a barrel in New York.

Among banks, Morgan Stanley and M&T Bank each rose 1.9 percent after reporting earnings that beat analysts' forecasts.

The Dow Jones industrial average rose 40 points, or 0.2 percent, to 18,202.

The S&P 500 index rose 4 points, or 0.2 percent, to 2,144. The Nasdaq composite edged up 2 points, or 0.1 percent, to 5,246.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 1.74 percent.

This story has been automatically published from the Associated Press wire which uses US spellings

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