US Stocks Finish Higher

U.S. stocks closed higher Wednesday as declining oil inventories sparked Exxon Mobil, Chevron and other energy companies higher, and Merck led health care into the green although industrials including Deere dented the market's gains.

For the second day this week, big declines in China hampered stocks at the open Wednesday. However, that weakness was erased after the U.S. Department of Energy said U.S. crude-oil inventories plunged unexpectedly last week. This decline fueled a broad sector bounce for energy companies that lasted into the close.

Overall, the Dow Jones Industrial Average ended up 61.22 points, or 0.66%, to 9279.16, marking its second-straight day finishing higher. Pacing the index, Exxon Mobil gained 1.51, or 2.3%, to 68, and Chevron tacked on 1.22, or 1.8%, to 68.16. (more)