Energies, Apple Pull Stocks Higher

NEW YORK (AP) -- U.S. stocks are climbing in Monday morning trading as energy companies rise in tandem with the price of oil. Materials companies are also trading higher. Apple is rising after new reports of fires affecting Samsung's Galaxy Note 7 phone, which competes with Apple's iPhone. That's sending technologystocks higher.

KEEPING SCORE: The Dow Jones industrial average jumped 142 points, or 0.8 percent, to 18,382 as of 10:05 a.m. Eastern time. The Standard & Poor's 500 index rose 15 points, or 0.7 percent, to $2,168. The Nasdaq composite added 47 points, or 0.9 percent, to 5,339.

ENERGY: Benchmark U.S. crude rose $1.24, or 2.5 percent, to $51.05 a barrel in New York while Brent crude, used to price international oils, gained $1.27, or 2.4 percent, to $53.20 a barrel in London. Exxon Mobil climbed $1.69, or 1.9 percent, to $88.43 and Murphy Oil added 89 cents, or 3 percent, to $30.40.

SHOT IN THE ARM: Drugmaker Mylan gained $3.51, or 9.8 percent, to $39.45. On Friday the company agreed to pay $465 million to settle allegations it overcharged the Medicaid program for its EpiPen shot. Legislators and federal health authorities had said Mylan wrongly classified EpiPen as a generic drug instead of a brand-name one, which meant Mylan paid lower rebates to federal and state Medicaid programs. The stock is down 19 percent since late August.

BRISTOL BUMPED: Bristol-Myers Squibb lost $5.08, or 9.2 percent, to $50.35 after the company reported new data from a study of its drug Opdivo in lung cancer patients. Stronger results could have expanded use and sales of Opdivo. The stock has dropped 33 percent since the company announced initial results from that trial in early August. Rival Merck rose 92 cents, or 1.5 percent, to $63.69.

TWITTER BLOCKED: Social media network Twitter continued to fall as investors grew less optimistic that the company will be sold. Twitter sank $2.83, or 14 percent, to $17.02. It fell 20 percent Thursday on reports that possible buyers including Apple and Alphabet had decided not to make offers.

SAMSUNG'S PAIN, APPLE'S GAIN: Apple climbed $1.78, or 1.6 percent, to $115.84 as investors hope it will be able to sell more iPhones as competitor Samsung faced new problems with its Galaxy Note 7. Samsung said it has changed its production of the phones following reports that some of its replacement phones are overheating and catching fire, just as the original version of the phone did before Samsung recalled it last month. Samsung did not confirm or deny a report from a Korean news agency that it suspended production of the Note 7 phone.

DOVER DIVES: Manufacturer Dover forecast a smaller profit and a bigger decline in revenue because of weaker spending in several industries and production problems in its retail refrigeration unit. The company also said its purchase of British company Wayne Fueling Systems won't close until early next year because regulators in the United Kingdom are still reviewing the deal. The stock gave up $3.23, or 4.5 percent, to $69.01.

OVERSEAS: Germany's DAX rose 1.2 percent. The CAC-40 in France was 1 percent higher and the FTSE 100 in London rose 0.7 percent. Seoul's Kospi rose 0.1 percent. Japan's markets were closed for a holiday.

CURRENCY: The dollar rose to 103.54 yen from 103.06 yen Friday. The euro fell to $1.1155 from $1.1182, and the British pound fell to $1.2375 from $1.2435. Bond trading was closed for the Columbus Day holiday.

(KA)