NEW YORK, Jun. 29, 2009 (Xinhua News Agency) -- Wall Street posted moderate gains Monday, as higher oil prices lifted energy producers.
Crude rose to 71.49 U.S. dollars a barrel on the New York Mercantile Exchange after Nigerian militants partly shut down an offshore oil platform. Exxon Mobil Corp. (NYSE:XOM) and ConocoPhillips (NYSE:COP) increased as crude prices climbed.
J.C. Penney Co. gained nearly 3 percent after Morgan Stanley (NYSE:MS) raised its recommendation for the third-largest U.S. department- store chain to "overweight."
Shares of home builders also pulled the market after Credit Suisse raised its rating on KB Home (NYSE:KBH) , citing stronger orders and more attractive valuation. The Dow Jones U.S. home construction index advanced 1.5 percent.
The Dow Jones industrial average rose 90.99, or 1.1 percent, to 8,529.38. The S&P 500 index rose 8.33, or 0.9 percent, to 927.23, while the Nasdaq composite index rose 5.84, or 0.3 percent, to 1, 844.06.
