30 Jun 2009

Wall St climbs as oil prices rise

10:33 am on 30 June 2009

Stocks in the United states rose on Monday as higher oil prices lifted shares of energy companies.

Crude oil jumped 3.4%. Exxon Mobil Corp was up 2.2% to $US70.58.

Shares of home builders helped underpin the market on Monday after Credit Suisse raised its rating on KB Home, citing stronger orders and more attractive valuation. KB Home was up 5.1% at $US14.11.

The Dow Jones industrial average gained 90.99 points, or 1.08 percent, to end at 8,529.38.

Standard & Poor's 500 Index was up 8.33 points, or 0.91%, at 927.23. The Nasdaq Composite Index was up 5.84 points, or 0.32%, at 1,844.06.

Trading volume was below average on the New York Stock Exchange, with about 1.06 billion shares changing hands - far below last year's estimated daily average of 1.49 billion.

About 2.04 billion shares were traded on the Nasdaq - below last year's daily average of 2.28 billion.

Markets in the United States will be closed on Friday for the 4 July Independence Day holiday.