US stocks rise, led by energy stocks as oil prices climb
NEW YORK - U.S. stocks are higher in midday trading as investors try to look beyond the uncertain timing of a possible interest rate increase by the Federal Reserve.
The Dow Jones industrial average climbed 107 points, or 0.7 percent, to 16,494 as of noon Eastern time on Monday.
The Standard & Poor's 500 index rose 10 points, or 0.5 percent, to 1,968 and the Nasdaq composite gained 13 points, or 0.3 percent, to 4,840.
Stocks are rebounding from sharp falls on Friday. Those declines were caused by concerns that the Fed's decision to keep interest rates at record lows signaled a weak outlook for global growth.
Chipmaker Atmel jumped after it accepted a bid from Britain's Dialog Semiconductor.
The price of U.S. benchmark crude rose 3.1 percent.
Bond prices fell, pushing up the yield on the 10-year benchmark Treasury note to 2.19 percent from 2.13 percent on Friday.