Oil, Energy Rally Fuels Market Surge

US stocks are closing higher Friday as oil prices and energy companies rallied, the AP reports. OPEC says it will produce more oil, but not as much as investors feared; US crude jumped 4.6% and Exxon Mobil advanced 2.1%. Health care companies also rose while technology companies and banks fell. Meanwhile, the European Union imposed tariffs on $3.4 billion in US exports, and President Trump threatened to put a 20% tax on cars made in Europe. The S&P 500 index rose 5 points, or 0.2%, to 2,754. The Dow Jones Industrial Average broke an eight-day losing streak. It gained 119 points, or 0.5%, to 24,580. The Nasdaq composite lost 20 points, or 0.3%, to 7,692. (More stock market stories.)