Market Roundup

U.S. stocks rebounded Tuesday and climbed after a survey showed consumer confidence is at a nine-year high, a sign Americans will keep spending in the coming months. Technology and consumer stocks made the largest gains. Energy firms slumped with oil prices.

U.S. consumer confidence reached its highest level this month since August 2007, according to the Conference Board. The group said its index rose as consumers grew more optimistic about the labor market. Economists had expected it to fall.

Travel companies made gains after Carnival reported a solid profit and strong revenue in the third quarter and raised its forecast for its full-year results. Carnival rose 4% to $48.35.

Amazon climbed 2.1% to $816.11 as consumer stocks made big moves. Netf lix rose 2.7% to $97.07. Microsoft picked up 1.8% to $57.95. IBM advanced 1.8% to $156.77.

Oil prices fell after investors were disappointed again that OPEC countries didn't make a deal to limit production. A representative for Iran said there probably won't be any such agreement this week and oil-producing nations should discuss the issue in November.

U.S. crude fell 2.7% to $44.67 a barrel. Brent crude sank 2.9% to $45.97 a barrel. Oil prices had risen 3% Monday. Devon Energy sank 3.2% to $38.38 and ConocoPhillips fell 1.5% to $39.43.

American Express rose 1.4% to $64.28. A federal appeals court sided with the company late Monday in an antitrust case. On Tuesday the company raised its dividend and said it will buy back as many as 150 million shares of its stock.

Oil and natural gas company Rice Energy fell 7.9% to $25 after it said it will buy Vantage Energy for $2.7 billion including debt. Part of Vantage's business is to become part of a separate Rice company called Rice Midstream Partners, whose shares rose 5.7% to $22.52.

Kite Pharma jumped 9.2% to $60.04 after the Santa Monica drug developer reported good results for an experimental lymphoma treatment. Amgen fell 1.1% to $171.63 after the Thousand Oaks biotechnology company said its cancer drug Kyprolis did not meet its goals in a study involving newly diagnosed patients.

Bond prices continued to rise. The yield on the 10-year Treasury note fell to 1.56% from 1.58%.

Gold fell $13.70 to $1,330.40 an ounce. Silver fell 43 cents to $19.17 an ounce. Copper fell 3 cents to $2.17 a pound.

The dollar fell to 100.27 yen from 101.34 yen. The euro slid to $1.1221 from $1.1255.

Heating oil fell 4 cents to $1.41 a gallon. Wholesale gasoline fell 1 cent to $1.39 a gallon. Natural gas remained at $3 per 1,000 cubic feet.