US STOCKS-Crude oil recovery drives Wall Street higher

miércoles 9 de marzo de 2016 13:23 GYT
 

* Brent crude up above $40 per barrel

* Chipotle down as 4 employees fall ill

* Biotechs fall on test program to lower Medicare drug costs

* Indexes up: Dow 0.38 pct, S&P 0.55 pct, Nasdaq 0.40 pct (Updates to early afternoon)

By Abhiram Nandakumar

March 9 (Reuters) - Wall Street was higher on Wednesday as a strong recovery in oil prices boosted energy shares.

Brent crude extended gains above $40 a barrel, after U.S. crude stockpiles rose in line with estimates last week and gasoline inventories fell more than expected.

Crude oil has rallied in recent weeks, but industry watchers remained skeptical of a sustained recovery in prices as the markets are dealing with a massive oversupply.

The rise in oil prices helped European shares bounce back on Wednesday, even as investors fretted about global economic conditions ahead of central bank meetings on monetary policies.   Continuación...