Stocks extend gains as close approaches; energy up 3%

November 16, 2015 8:27 PM

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The S&P 500 traded more than 1 percent higher, helped by gains of more than 3 percent in the energy sector as oil prices recovered from an earlier dip.

U.S. crude oil futures settled up $1.00, or 2.45 percent, at $41.74 a barrel. Brent also held higher near $44.70 a barrel. Traders attributed most of the gains to short-covering following geopolitical concerns and said they would likely be temporary.

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