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Monday, January 25, 2021

Stocks post biggest gain in a week, led by energy and banks

NEW YORK (AP) — The stock market posted its biggest gain in more than a week, led by gains in energy companies and banks.

Investors were encouraged as the price of oil continued to recover Tuesday. Exxon Mobil rose 5 percent and Chevron rose 4 percent.

Bank stocks rose as traders anticipated that the Federal Reserve would raise interest rates on Wednesday.

The Dow Jones industrial average rose 156 points, or 0.9 percent, to 17,524.

The Standard & Poor’s 500 index climbed 21 points, or 1.1 percent, to 2,043. The Nasdaq composite climbed 43 points, or 0.9 percent, to 4,995.

Natural gas prices continued to fall as investors anticipated more warm winter weather and less demand for heat.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.27 percent.

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