Most stocks get a bump

Sharp increase in crude oil prices helps boost energy companies

U. S. stock indexes closed mostly higher Wednesday. Banks and other financial stocks declined the most as bond yields headed lower, which translates into lower interest rates on loans and lower profits for banks.

The Dow Jones industrial average ended in the red, while the Standard & Poor’s 500 index and Nasdaq composite eked out modest gains.

Aday after Wall Street rallied on news that U. S. consumer confidence reached its highest level since 2000, the market got another dose of encouraging economic data Wednesday.

The National Association of Realtors said more people signed contracts to buy U. S. homes last month. The NAR’s pending home sales index climbed 5.5 percent in February to 112.3, its highest point since April and its second- highest point since 2006.

Outside of Washington, investors had their eye on the latest company earnings news. Investors bid up shares in several companies that posted solid quarterly results or outlooks.

RH, formerly Restoration Hardware, climbed 14.9 percent a day after the home furnishings and decor retailer reported stronger earnings. It added $ 5.68 to $ 43.68.

Exar surged 22.3 percent after MaxLinear agreed to buy the chipmaker for $ 13 per share, or $ 662 million. Shares in Exar gained $ 2.37 to $ 12.99. MaxLinear rose $ 1.55, or 5.8 percent, to $ 28.06.

Some companies’ quarterly report cards failed to impress.

Dave & Buster’s Entertainment fell 3.4 percent after the arcade and restaurant chain announced disappointing sales at older locations. The stock gave up $ 2.10 to $ 60.09.

In currency trading, the dollar weakened to 111.07 yen from111.09 yen. The euro fell to $ 1.0759 from $ 1.0808.

Energy prices closed sharply higher as traders weighed remarks from Iran’s oil minister. Oil prices climbed after Iran’s oil minister said the recent production cut deal will probably be extended, and fighting in Libya is affecting its oil industry.

Benchmark U. S. crude oil futures rose $ 1.14, or 2.4 percent, to close at $ 49.51 a barrel in New York. The contract rose 64 cents on Tuesday. Brent crude, used to price international oils, climbed $ 1.09, or 2.1 percent, to close at $ 52.42 a barrel in London. Natural gas added 8 cents to $ 3.18 per 1,000 cubic feet, wholesale gasoline rose 4 cents to $ 1.67 per gallon and heating oil gained 3 cents to $ 1.54 per gallon.

The price of gold slipped $ 1.90 to settle at $ 1,253.70 an ounce. Silver held steady at $ 18.25 per ounce.