US stocks rise as energy stocks bounce back from big loss

NEW YORK (AP) — Oil and gas companies are leading the way higher on the stock market as energy prices recover from a steep drop the day before.

Many of the top gainers in the Standard & Poor's 500 index today were energy companies. Consol Energy soared 19 percent and Range Resources rose 15 percent shortly after noon.

Railroad operator Union Pacific slumped 7 percent after reporting a drop in the amount of freight hauled and weaker results than analysts were expecting.

The Dow Jones industrial average gained 251 points, or 1.6 percent, to 16,019.

The Standard & Poor's 500 index rose 28 points, or 1.6 percent, to 1,888. The Nasdaq composite climbed 56 points, or 1.3 percent, to 4,528.