US stock market notches tiny gains; oil price rises sharply

US stock market notches tiny gains; oil price rises sharply

By The Associated Press | Posted - May 21, 2015 at 2:11 p.m.


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NEW YORK (AP) — U.S. stocks are closing slightly higher, led by an advance in energy stocks as the price of oil climbs.

Salesforce.com was among the big gainers Thursday after reporting results that beat analysts' forecasts. Best Buy was also up after reporting strong earnings.

The Dow Jones industrial average edged up a fraction of point to 18,285.

The Standard & Poor's 500 index rose five points, or 0.2 percent, to 2,130. The Nasdaq composite climbed 19 points, or 0.4 percent, to 5,090.

Oil rose $1.74, or 3 percent, to $60.72 a barrel following reports that U.S. storage levels are falling. That sent energy stocks higher. Rig operator Transocean gained 4 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.19 percent.

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