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May 26, 2016

Energy leads market higher

NEW YORK (AP) — U.S. stocks climbed Wednesday as investors continued to recover some confidence in the health of the global economy. That sent oil prices higher and gave energy companies a boost, while materials companies also climbed higher.

In Europe, a round of new rescue loans for Greece was unfrozen, eliminating the risk the country will default on its debts in the next few months. A survey of business sentiment in Germany, the largest economy in Europe, rose more than expected. European stock indexes rose and the U.S. market followed them. Expecting stronger demand for fuel and materials used in industry and construction, investors bought stock in energy and mining and chemicals companies. U.S. stocks had jumped Tuesday after a strong report on home sales.


 
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