U.S. stocks rose as energy shares gained after oil climbed to a one-year high, helping the market reverse an early drop triggered by earnings at Citigroup Inc. and Goldman Sachs Group Inc. that disappointed some investors.

Benchmark indexes climbed to one-year highs for a second day and the Dow Jones Industrial Average extended its advance past 10,000. Exxon Mobil Corp. and Chevron Corp. gained at least 1.5 percent as crude jumped above $77 a barrel, while Sunoco Inc. gained the most in 10 months as Morgan Stanley recommended shares of the largest refiner in the U.S. northeast. Citigroup tumbled 5 percent and Goldman Sachs fell 1.9 percent.

The Standard & Poor’s 500 Index gained 0.4 percent to 1,096.56 at 4:07 p.m. in New York after earlier losing as much as 0.5 percent. The Dow average added 47.08 points, or 0.5 percent, to 10,062.94 after climbing above 10,000 for the first time in a year yesterday.

(Bloomberg.com)