US stocks rise as health care and energy companies climb

Energy companies are jumping as the price of oil rises 5 percent.

Energy companies gained ground as benchmark U.S. crude rose $1.76, or 4.9 percent, to $37.65 a barrel in New York.

Halliburton had agreed to buy its rival for more than $34 billion in November 2014, after oil prices began to fall.

Pfizer and Allergan both rose after they called off their merger after the Treasury Department introduced new tax rules that made the deal far less appealing.

The owner of Corona, Negra Modelo and Pacifico beers reported solid quarterly results and raised its profit forecasts for the year.

Lighting maker Cree said its sales will fall far short of expectations because of new product delays and software problems.

Electronic payment processing company Global Payments gained $6.09, or 9.3 percent, to $71.24 after it posted strong quarterly results.

Analyst John Tomlinson of ITG Investment Research said he thinks the motorcycle company lost market share over the first three months of this year, and said he thinks its retail sales in the U.S. will drop in the first quarter.

Telecom stocks fell after AT&T and Verizon, the largest publicly traded companies in the industry, prepared to pay billions of dollars in quarterly dividends.