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August 19, 2016

Oil prices lift stocks

NEW YORK (AP) — U.S. stocks again ticked higher Thursday as the continuing rebound in oil prices gave energy companies a lift. The gains were modest, however, as investors have been avoiding big moves. The dollar weakened further, and compared to the yen it's at its lowest in almost three years.

Stocks wobbled in the early part of the day, but energy companies were a standout as the price of U.S. oil reached its highest level since the beginning of July. The weakening dollar aided exporters including technology and chemical companies. The market turned higher in the afternoon. Phone company stocks continued to slump, as did financial firms. Stocks haven't moved much this week and haven't made many big moves over the last month.


 
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