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		</div><p>US stocks edged higher overnight as energy companies climbed with the price of oil.</p>
<p>Stocks had opened lower but gradually recovered to finish at their highest levels of the day.</p>
<p>The price of oil jumped after the US government said petrol stockpiles shrank last week.</p>
<p>A survey also showed private US business payrolls grew by 179,000 in July as retailers and shipping firms hired more workers.</p>
<p>&#8220;So much of this (economic) recovery could be correctly categorised as slow but steady,&#8221; said Mike Baele, senior portfolio manager with US Bank&#8217;s private client reserve. &#8220;It&#8217;s all better than last year, for the most part, but it&#8217;s also all below expectations.&#8221;</p>
<p>The Dow Jones industrial average broke a seven-day losing streak and added 41.23 points, or 0.2%, to 18,355.</p>
<p>The Standard &#038; Poor&#8217;s 500 index gained 6.76 points, or 0.3%, to 2,163.79. The Nasdaq composite rose 22 points, or 0.4%, to 5,159.74.</p>
<p>The employment survey by payroll processor ADP suggests employers continue to hire new workers, and at a faster pace than they were this spring, when hiring slowed sharply.</p>
<p>The Labour Department is to release a report on Friday that includes hiring by government as well as private companies. Experts think it will show a gain of about 175,000 jobs.</p>
<p>The price of crude oil jumped after the US government said stockpiles of petrol shrank by more than three million barrels last week.</p>
<p>S&#038;P Global Platts said that was far more than expected and that total oil production also decreased slightly.</p>
<p>That helped oil bounce back from the slump that has taken it from 50 US dollars (£37) a barrel in early June down to around $40.</p>
<p>Benchmark US crude added $1.32, or 3.3%, to $40.83 a barrel in New York.</p>
<p>Brent crude, which is used to price international oils, rose $1.30, or 3.1%, to $43.10 a barrel in London.</p>
<p>That translated into big gains for energy companies. Williams Cos. rose $1.71, or 7.1%, to $25.67 and Devon Energy gained $1.88, or 5.2%, to $38.</p>
<p>Financial stocks also traded higher.</p>
<p>Insurance company American International Group jumped following a strong second-quarter report. AIG stock rose $3.96, or 7.3%, to $58.10.</p>
<p>Intercontinental Exchange, owner of the New York Stock Exchange and other stock markets, said it will split its stock 5-for-1 and buy back $1bn in shares. Its stock rose $14.09, or 5.3%, to $278.02.</p>
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