A surge in oil and gas companies pulled the stock market out of a five-day slump on Friday, as the price of crude swung higher.
Oil prices jumped after the International Energy Agency predicted drillers would cut production this year. Exxon Mobil, Chevron and other energy companies led all 10 sectors of the Standard & Poor's 500 index to gains, climbing 3%. Oil's seven-month slide had cut its price by more than half.
Oil prices jumped after the International Energy Agency predicted drillers would cut production this year. Exxon Mobil, Chevron and other energy companies led all 10 sectors of the Standard & Poor's 500 index to gains, climbing 3%. Oil's seven-month slide had cut its price by more than half.
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