United States markets were higher on Wednesday as energy, machinery and chemicals companies received a lift from the weaker dollar. Energy company shares were higher as oil prices continued to rise.
KEEPING SCORE In early afternoon trading, the Dow Jones industrial average was up 0.2 percent and the Standard & Poor's 500-stock index was up 0.2 percent. The Nasdaq composite index gained 0.21 percent.
ENERGY Benchmark United States crude gained 58 cents to $ 50.94 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 75 cents to $ 52.19 a barrel in London. It jumped 89 cents the previous session.
The price of crude oil has risen over the last few days as the dollar has weakened. On Tuesday, United States crude closed at more than $ 50 a barrel for the first time since July.
CURRENCIES The dollar declined to 106.64 yen from 107.31 yen late Tuesday. The euro edged up to $ 1.1409 from $ 1.1361.
The dollar has lost some of its strength after Friday's disappointing jobs report. That has helped energy companies, as well as mining companies and chemicals and machinery makers; a weaker dollar makes American goods more affordable in other countries.
Shares of the machinery maker Caterpillar gained 1.4 percent. Shares of the gold and copper producer Freeport-McMoRan added 3.3 percent, shares of the gold producer Newmont Mining gained 1.6 percent and shares of the aluminum company Alcoa rose 1.3 percent.
PLAY ON The restaurant chain Dave & Buster's reported strong first-quarter results and raised its outlook for the year. Its stock climbed 11 percent.
PAY UP Verifone Systems, which makes terminals used for electronic payments, cut its annual forecast after it reported disappointing quarterly results. The company said it would eliminate jobs and review some of its struggling businesses. The stock gave up 23 percent.
DRINK UP Brown-Forman, the maker of Jack Daniel's and other liquor brands, gained ground after it reported strong fourth-quarter results. The stock gained 3.2 percent. Shares of a competitor, Constellation Brands, which makes the Corona, Negra Modelo and Pacifico beers, rose 2 percent. Their gains helped take household goods companies higher.
HANGING UP Phone company stocks, which have done well over the last two weeks, traded lower. Verizon Communications stock lost 0.7 percent and AT&T dipped 0.3 percent.
OXFORD ROCKED Shares of Oxford Industries, the owner of Tommy Bahama, Lilly Pulitzer and other clothing lines, slumped after its first-quarter results disappointed investors. The stock lost 3.6 percent.
SKULLCANDY STRATEGY Shares of the headphone maker Skullcandy surged after the company's founder said he might take the company private. Rick Alden, Skullcandy's largest shareholder, disclosed the idea in a form filed with the Securities and Exchange Commission. Skullcandy stock rose 16.3 percent.
HITTING RESET Shares of the computer networking company F5 Networks lost 2.4 percent. The stock had risen 13 percent on Tuesday on reports that the company would consider selling itself.
EUROPEAN MARKETS In Germany, the DAX fell 0.7 percent, and in France, the CAC 40 lost 0.6 percent. The FTSE 100 rose 0.3 percent in Britain.
GLOBAL GROWTH The World Bank cut its forecast for this year's global economic growth to 2.4 percent from the 2.9 percent pace projected in January. It cited sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade and diminishing capital flows. It said half the revision was prompted by the struggle of commodity-exporting economies to adapt to lower prices for oil and other major commodities.
ASIA'S DAY The Nikkei 225 declined 0.9 percent in Japan, while in Hong Kong, the Hang Seng shed 0.1 percent. The Shanghai composite index fell 0.3 percent in China. The Kospi was up 0.8 percent in South Korea. In Australia, the S.&P./ASX 200 was nearly flat, while the Sensex in India was up 0.1 percent. Benchmarks in Taiwan, Singapore and the Philippines gained while New Zealand, Thailand and Indonesia declined.
BONDS Bond prices rose. The yield on the 10-year Treasury note fell to 1.71 percent from 1.72 percent.
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