Energy stocks lead a broad rally as the price of oil soars

NEW YORK (AP) — Stocks are closing out their first weekly gain in four weeks, led by a surge in energy and technology stocks. Oil stocks soared Friday after the price of crude jumped 9 percent, clawing back more of the ground it has lost since the beginning of the year. Apple led a broad rally...

 
              Traders work at the New York Stock Exchange, Friday, Jan. 22, 2016. (AP Photo/Mark Lennihan)

NEW YORK (AP) — Stocks are closing out their first weekly gain in four weeks, led by a surge in energy and technology stocks.

Oil stocks soared Friday after the price of crude jumped 9 percent, clawing back more of the ground it has lost since the beginning of the year.

Apple led a broad rally in tech shares, posting a gain of 5 percent. Microsoft and Facebook also rose sharply.

American Express sank 12 percent after issuing a weak earnings forecast for this year and next.

The Dow Jones industrial average rose 210 points, or 1.3 percent, to 16,093.

The Standard & Poor's 500 index rose 37 points, or 2 percent, to 1,906. The Nasdaq composite climbed 119 points, or 2.7 percent, to 4,591.

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