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Dow adds 150 points; energy jumps 1.5% as oil recovers

U.S. stocks traded higher Monday, helped by some gains in defensive sectors, following terror attacks in Paris over the weekend. ( adds 100 points, telecoms lead&via=CNBC"> Tweet This )

Energy and telecommunications gained over 1.5 percent to lead advancers in the S&P 500.

The Dow Jones industrial average rose 150 points in early afternoon trade,with Chevron, UnitedHealth and 3M and contributing the most to gains.

"I think you're really going to focus on oil, focus on the 10-year. Not a lot of earnings reports, not a lot of economic news, so I think the focus is going to be on oil," said Peter Coleman, head trader at Convergex.

He said the fact futures turned lower, giving up an earlier attempt to recover from sharp overnight declines, indicated Monday's session would likely be choppy.

Crude oil turned higher to trade above $41 a barrel in early afternoon trade, while Brent held lower near $44 a barrel.

Earlier, Dow Jones reported OPEC's oil export price fell below $40 a barrel, the lowest level since 2009.

The Dow transports traded about a third of a percent lower after briefly falling 1 percent as airlines weighed.

The Nasdaq composite attempted gains in early afternoon trade as Apple gained about 1 percent. Amazon briefly fell 2 percent and the iShares Nasdaq Biotechnology ETF (IBB) traded about 0.8 percent lower.

"I think the positive tone to the market owes something to the fact that European shares moved higher," said John Lonski, chief economist at Moody's. He also noted some support from greater confidence in a gradual pace of rate hikes by the Federal Reserve.

European stocks held mostly higher after a series of coordinated terrorist attacks in Paris late Friday left more than a 100 dead and hundreds injured.

The Islamist militant group that calls itself "Islamic State" (ISIS) claimed responsibility for the attacks. France responded over the weekend by launching air strikes against IS targets in Syria.

"Obviously the markets are going to be largely overshadowed by the events in Paris over the weekend," said David Kelly, chief global...