US STOCKS-Energy, financial stocks give Wall St modest lift

miércoles 3 de agosto de 2016 16:10 GYT

* Oil prices jump more than 3 percent

* U.S. private sector adds 179,000 jobs in July vs est. 170,000

* Indexes up: Dow 0.23 pct, S&P 0.31 pct, Nasdaq 0.43 pct (Updates to market close)

By Chuck Mikolajczak

NEW YORK, Aug 3 (Reuters) - Wall Street advanced modestly on Wednesday after a sharp rise in oil prices boosted energy shares, while better-than-anticipated data on the labor market helped financial stocks.

U.S. oil prices jumped more than 3 percent to settle at $40.83 a barrel after a larger-than-expected gasoline draw offset a surprise build in U.S. crude stockpiles. WTI crude had settled below $40 for the first time since April on Tuesday.

The S&P energy index was up 1.8 percent as the best performing of the 10 major S&P groups.

"The focus, at least near term, is definitely on energy prices and if we can hold $40 (oil) the market is fine here. If it can't hold $40, there is going to be more pressure on the overall market," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

"It's back to worries about oil and excess supply and demand that is OK but not great."   Continuación...