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VOL. 42 | NO. 25 | Friday, June 22, 2018

Stocks rise as energy companies surge

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NEW YORK (AP) — U.S. stocks are closing higher Friday as oil prices and energy companies rallied. OPEC said it will produce more oil, but not as much as investors feared.

U.S. crude jumped 4.6 percent and Exxon Mobil advanced 2.1 percent.

Health care companies also rose while technology companies and banks fell.

The European Union imposed tariffs on $3.4 billion in U.S. exports, and President Donald Trump threatened to put a 20 percent tax on cars made in Europe.

The S&P 500 index rose 5 points, or 0.2 percent, to 2,754.

The Dow Jones Industrial Average broke an eight-day losing streak. It gained 119 points, or 0.5 percent, to 24,580.  The Nasdaq composite lost 20 points, or 0.3 percent, to 7,692.