NEW YORK (AP) — Stocks are trading higher at midday, pushed up by a government report about higher factory orders for May. Energy stocks are up the most after the price of oil jumped to the highest level since May.
The Dow Jones industrial average is up 62 points to 12,934. The Standard & Poor's 500 is up eight to 1,373. The Nasdaq composite index is up 20 to 2,971.
Trading volume is light, with the market scheduled to close at 1 p.m. ahead of the Fourth of July holiday.
Energy stocks are up nearly 2 percent on rising tension with oil-rich Iran: Europe is restricting purchases of Iranian oil to try to force Iran to be more forthcoming about its nuclear activity. Iran is threatening to block a key shipping route in response.