U.S. Stocks Advance as Irish Debt Concern Eases, Oil Rallies
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U.S. stocks advanced, ending two days of declines, as a rally in oil prices boosted energy shares and Ireland’s central bank governor said the country may return to bond markets next year, easing concern that Europe’s debt crisis will worsen.
Chevron Corp. gained 1.9 percent as oil reached a two-year high following an Energy Department report showing an unexpected decrease in crude stockpiles. Bank of America Corp. rose 2.4 percent, leading financial shares higher. Ford Motor Co. rallied 3.5 percent as the automaker held its lead as the top-earning car manufacturer. Boeing Co. slid 3.2 percent, weighing on the Dow Jones Industrial Average, after suspending test flights of the 787 Dreamliner jet.