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Stocks gain as the price of crude oil rebounds
Stocks gain as the price of crude oil rebounds

Stocks returned to record levels on Wednesday as a rebound in oil prices boosted energy stocks. The stock market also gained after the completion of midterm elections that saw Republicans take control of the Senate. The direction of the stock market has been dictated by swings in the price of oil this week. Energy stocks plunged on Monday and Tuesday on reports that Saudi Arabia was cutting prices for U.S.-bound crude. On Wednesday, oil rebounded on a smaller-than-expected increase in overall U.S. supplies. Devon Energy was the biggest gainer in the Standard & Poor's 500 index after it reported record oil production late Tuesday and said that its third-quarter earnings more than...

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