US stocks rose slightly Thursday on the back of energy company gains, as financial shares continued their steady fall on the week, dpa reported.
Chevron Corp and Exxon Mobil Corp led the rise after crude oil prices for October delivery surged 4.9 per cent to 121.23 dollars per barrel in New York trading.
A Citigroup Inc forecast of further mortgage-related writedowns for banks weighed on financial stocks. Shares in lending giants Fannie Mae and Freddie Mac had plunged more than 50 per cent in the first three days of the week amid ongoing concerns that they may require a government bailout, but recovered slightly on Thursday.
The blue-chip Dow Jones Industrial Average edged up 12.78 points, or 0.1 per cent, to 11,430.21. The broad-based Standard & Poor's 500 Index rose 3.18 points, or 0.3 per cent, to 1,277.72. The technology- heavy Nasdaq Composite Index was down 8.7 points, or 0.4 per cent, to to 2,380.38.
The US currency fell to 67.11 euro cents from 68.82 euro cents on Wednesday and to 108.49 Japanese yen from 109.82 yen.
Gold closed at 839 dollars per fine ounce from 816.30 dollars on Wednesday.