American International Group

Stocks tick higher as energy prices jump

Stocks tick higher as energy prices jump

U.S. stocks edged higher Wednesday as energy companies climbed with the price of oil. Banks also rose, and investors sold traditionally safe stocks. A survey showed that hiring by private companies continued at a solid but uninspiring clip in July.

Stocks opened lower but gradually recovered to finish at their highest levels of the day. The price of oil jumped after the U.S. government said gasoline stockpiles shrank last week.

The Dow Jones industrial average broke a seven-day losing streak and advanced 41.23 points, or 0.2%, to 18,355. The Standard & Poor's 500 index rose 6.76 points, or 0.3%, to 2,163.79. The Nasdaq composite climbed...