Oil Shares, Apple Boost US Stocks

NEW YORK, (UrduPoint / Pakistan Point News -10th oct,2016) - Wall Street stocks posted solid gains Monday, lifted by strength in petroleum companies due to higher oil prices and a jump in Apple shares.

Dow member ExxonMobil rose 2.0 percent and Halliburton 2.2 percent after US oil prices finished at their highest level of 2016 after Russian President Vladimir Putin expressed support for OPEC's push to limit oil output.

Apple rose 1.8 percent as samsung Electronics acknowledged it was adjusting production of the Galaxy Note 7 smartphone due to reports that replacement units for devices with exploding lithium-ion batteries are also catching fire.

At the closing bell, the Dow Jones Industrial Average stood at 18,329.04, up 0.5 percent. The broad-based S&P 500 gained 0.5 percent to 2,163.66, while the tech-rich Nasdaq Composite Index advanced 0.7 percent to 5,328.67.