U.S. stocks closed higher on Tuesday, led by energy stocks as they shrugged off a decline in crude oil futures to rally back from their prior-day drubbing.
The S&P 500 SPX, +0.64% gained 13.11 points, or 0.6%, to 2,066.55, with the health-care sector stocks joining energy to lead gains. Financials sector stocks also rallied, while telecoms, the only laggard on Tuesday, sold off. It was the best gain for the benchmark index since Oct 31.
Nymex gasoline for January RBF5, +0.74% dropped 7 cents, or 3.7%, to finish at $1.8116 a gallon. Nymex January heating oil HOF5, +0.38% fell 6 cents, or 2.6%, to settle at $2.1544 a gallon.
Natural gas for January delivery NGF15, -0.65% declined 13 cents, or 3.3%, to end at $3.8740 per million British thermal units. Natural gas futures are down for four straight sessions, and Tuesday’s settlement was the lowest in a month.
Crude-oil futures fell Tuesday, giving up part of the prior day’s 4% gain and barely holding above the five-year lows hit Friday.
On the New York Mercantile Exchange, crude futures for delivery in January CLF5, +1.02% declined $2.12, or 3.1%, to settle at $66.88 a barrel. Oil futures have been down for five out of the past six sessions.
January Brent crude LCOF5, +0.74% shed $2, or 2.8%, to $70.54 a barrel. Brent is down for six out of the last seven sessions.