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Stocks Turn Positive as Energy Leads


Stocks turned higher by midday Tuesday as crude oil rebounded and pushed the energy sector higher.

The S&P 500 added 0.14%, the Dow Jones Industrial Average rose 0.44%, and the Nasdaq gained 0.32%.

Crude oil prices moved higher after an oil worker strike in Brazil continued. The strike has slowed daily output by 25% in the world's ninth largest oil-producing region. Oil was also on watch ahead of Wednesday's weekly domestic inventories data. West Texas Intermediate crude added 2.5% to $47.31 a barrel on Tuesday.

A surge in Chevron (CVX - Get Report) and Exxon Mobil (XOM - Get Report) shares boosted the Dow, while other major oilers including Schlumberger (SLB - Get Report) , Royal Dutch Shell (RDS.A - Get Report) , BP (BP - Get Report) and Total (TOT) added to the S&P 500. The Energy Select Sector SPDR ETF (XLE) climbed 2%.

Factory orders in the U.S. fell 1% in September, narrower than the 2.1% slump recorded in August. Economists had expected orders to decline 0.9%. Excluding transportation, orders fell 0.6%, slightly narrower than a 1.1% decline a month earlier.

Car sales enjoyed a double-digit percentage bump in October. Fiat Chrysler (FCAU) posted a 15% jump in U.S. car sales in October. Its Jeep model, in particular, was a hot seller, posting a...