US stocks gain in midday trade, breaking a 3-week slump
NEW YORK (AP) — U.S. stocks are rising in midday trading after getting hit hard last week.
The Dow Jones industrial average rose 192 points, or 1.1 percent, to 17,941 as of 11:45 a.m. Eastern time Monday.
The Standard & Poor’s 500 gained 20 points, or 1 percent, to 2,074. The Nasdaq composite climbed 44 points, or 0.9 percent, to 4,915.
The price of oil sank to a six-year low Monday, dragging energy stocks down along with it. Denbury Resources sank 4 percent.
The market is coming off three weeks of declines. Traders will be watching a meeting of Federal Reserve policymakers this week for insight into when the bank might start raising interest rates. Low rates have boosted stocks for six years.
The yield on the 10-year Treasury note fell to 2.07 percent.