Markets Right Now: Stocks rise again, though energy tanks

NEW YORK – The latest on developments in financial markets (all times local):

4:00 p.m.

Stocks are closing broadly higher on Wall Street Wednesday, although a sharp drop in the price of oil tempered the gains.

Energy shares fell as the price of oil plunged 3.4% following a report showing an unexpected surge in U.S. supplies. Exxon Mobil fell 0.8% and Halliburton fell 3.5%.

The S&P 500 index added 22 points, or 0.8%, to 2,826. The index’s 2.1% gain Tuesday was its best performance since January.

GameStop plummeted almost 36% after the videogame maker badly missed sales estimates in the first quarter.

Investors also snapped up health care stocks. UnitedHealth Group rose 0.8%.

The Dow Jones industrials rose 207 points, or 0.8%, to 25,539. The Nasdaq gained 48 points, or 0.6%, to 7,575.

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12:00 p.m.

Stocks are rising for a second straight day Wednesday, although a sharp drop in energy shares tempered the gains. .

Energy shares fell as the price of oil plunged 4.4% following a report showing an unexpected surge in U.S. supplies. Exxon Mobil fell 1.1% and Halliburton fell 4%.

The S&P 500 index added 9 points, or 0.4%, to 2,813. The index’s 2.1% gain Tuesday was its best performance since January.

Salesforce gained 3.6%. Its profit and sales for the first quarter exceeded Wall Street forecasts.

GameStop plummeted 38% after the videogame maker badly missed sales estimates in the first quarter.

Investors also snapped up health care stocks. UnitedHealth Group rose 1.3%.

The Dow Jones industrials rose 123 points, or 0.5%, to 25,455. The Nasdaq gained 13 points, or 0.2%, to 7,540.

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9:35 a.m.

Stocks are extending gains to a second day Wednesday, led by technology and health care companies.

The S&P 500 index added 13 points, or 0.4%, to 2,816. The index’s 2.1% gain Tuesday was its best performance since January.

Salesforce gained 3.3%. Its profit and sales for the first quarter exceeded Wall Street forecasts.

GameStop plummeted 29% after the videogame maker badly missed sales estimates in the first quarter.

Medtronic rose 1.9% to lead health care companies higher.

The Dow Jones industrials rose 129 points, or 0.5%, to 25,461. The Nasdaq gained 48 points, or 0.7%, to 7,575.

Bonds rose and the yield on the 10 year Treasury dropped to 2.10% after a private survey showed U.S. companies added just 27,000 jobs in May, the fewest since March 2010.