News Summary: Energy lights up the market

Published July 3, 2012 5:52pm ET



ENERGY LIGHTS UP: Energy stocks popped along with the price of oil, which rose because of increasing tension in oil-rich Iran. The country is threatening to block a key shipping route, which would crimp supply and raise prices.

AT THE WHEEL: Ford and General Motors both rose after they and other car companies reported higher year-over-year sales in June. But the pace of car sales for the year is still below what analysts were predicting in the spring.

FACTORY ORDERS: A report from the Commerce Department said that factory orders increased 0.7 percent in May compared with the previous month, welcome news after two months of declines.