Wall Street turns positive as oil powers energy stocks

(Reuters) – U.S. stocks reversed course to trade higher on Thursday as energy shares climbed after oil prices hit $80 per barrel for the first time since November 2014.

FILE PHOTO: Traders and guests gather for the IPO of PermRock Royalty Trust on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 2, 2018. REUTERS/Brendan McDermid

At 10:53 a.m. EDT, the Dow Jones Industrial Average .DJI was up 52.92 points, or 0.21 percent, at 24,821.85. The S&P 500 .SPX was up 8.13 points, or 0.30 percent, at 2,730.59 and the Nasdaq Composite .IXIC was up 20.55 points, or 0.28 percent, at 7,418.84.

Reporting by Medha Singh in Bengaluru; Editing by Anil D’Silva

JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/businessNews/~3/n-ggKOrJrBs/wall-street-turns-positive-as-oil-powers-energy-stocks-idUSKCN1II1KW

Author: JEFFREY LIPTON BARBADOS