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US stock indexes move higher in quiet trading; energy shares gain as price of crude oil surges

NEW YORK, N.Y. – U.S. stocks are closing higher, led by gains in energy shares as the price of crude oil surges.

The Dow Jones industrial average rose 117 points, or 0.7 per cent, to 17,880 on Monday.

The Standard & Poor’s 500 index gained 13 points, or 0.7 per cent, to 2,080. The Nasdaq composite gained 30 points, or 0.6 per cent, to 4,917.

Energy stocks had some of the biggest gains. Rig operator Transocean soared 10 per cent.

Oil rose 6 per cent to $52.14 a barrel in New York.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.90 per cent.

Volume was relatively light. Many overseas markets were closed for holidays.