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Markets Right Now: Stocks climb as oil prices rise

NEW YORK, N.Y. – The latest on developments in financial markets (All times local):

11:45 a.m.

U.S. stocks are rising in midday trading, putting indexes on track to set new record highs, as the price of oil jumps and energy companies move higher.

The price of oil jumped 3 per cent Monday as traders hoped OPEC would finalize a deal to curb production.

Marathon Oil gained and Hess each rose 4 per cent.

Meat producer Tyson Foods tumbled dropped 14 per cent after it disclosed disappointing results for its fourth fiscal quarter and said its CEO is stepping down.

LifeLock climbed 15 per cent after Symantec agreed to buy the fraud protection company.

The Dow Jones industrial average rose 53 points, or 0.3 per cent, to 18,920. The Standard & Poor’s 500 index gained 11 points, or 0.5 per cent, to 2,193. The Nasdaq composite added 35 points, or 0.7 per cent, to 5,356.

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9:35 a.m.

U.S. stocks are rising in early trading as the price of oil jumps and energy companies move higher, keeping indexes at record highs.

The price of oil jumped nearly 3 per cent early Monday as traders hoped OPEC would finalize a deal to curb production.

Marathon Oil gained 4 per cent and Hess rose 3 per cent.

Meat producer Tyson Foods tumbled dropped 15 per cent after it disclosed disappointing results for its fourth fiscal quarter and said its CEO is stepping down.

LifeLock climbed 15 per cent after Symantec agreed to buy the fraud protection company.

The Dow Jones industrial average rose 55 points, or 0.3 per cent, to 18,921. The Standard & Poor’s 500 index gained 9 points, or 0.4 per cent, to 2,191. The Nasdaq composite added 28 points, or 0.5 per cent, to 5,350.