US stocks gain in midday trade, breaking a 3-week slump

Trader Christopher Fuchs, left, works on the floor of the New York Stock Exchange, Monday, March 16, 2015. U.S. stocks opened higher, led by health care and utilities companies, rebounding after three weeks of losses. (AP Photo/Richard Drew) Trader Christopher Fuchs, left, works on the floor of the New York Stock Exchange, Monday, March 16, 2015. U.S. stocks opened higher, led by health care and utilities companies, rebounding after three weeks of losses. (AP Photo/Richard Drew)

By Associated Press March 16, 2015 1 min read

NEW YORK (AP) – U.S. stocks are rising in midday trading after getting hit hard last week.

The Dow Jones industrial average rose 192 points, or 1.1 percent, to 17,941 as of 11:45 a.m. Eastern time Monday.

The Standard & Poor’s 500 gained 20 points, or 1 percent, to 2,074. The Nasdaq composite climbed 44 points, or 0.9 percent, to 4,915.

The price of oil sank to a six-year low Monday, dragging energy stocks down along with it. Denbury Resources sank 4 percent.

The market is coming off three weeks of declines. Traders will be watching a meeting of Federal Reserve policymakers this week for insight into when the bank might start raising interest rates. Low rates have boosted stocks for six years.