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Procter & Gamble

Stocks rise as oil makes another swift reversal

Stocks rise as oil makes another swift reversal

U.S. stocks jumped Tuesday as the price of oil made another abrupt reversal, this time rising almost 4% after falling sharply the day before.

Energy stocks climbed along with the price of oil, and Chevron and Exxon Mobil made major gains. Strong fourth-quarter results from beleaguered wireless provider Sprint gave telecom stocks a boost. Quarterly earnings also sent several stocks higher, including Post-it Notes maker 3M; Procter & Gamble, which makes Crest toothpaste; and luxury handbag maker Coach.

The Dow Jones industrial average jumped 282.01 points, or 1.8%, to 16,167.23. The Standard & Poor's 500 index rose 26.55 points, or 1.4%, to 1,903.63. The Nasdaq composite...