Stocks turned higher this afternoon as a rebound in crude prices fueled a rally in the energy sector. A positive April jobs report this morning also upped the chances of a June rate hike. Crude oil rebounded on Friday from its worst settlement in five months a day earlier. Gains held even after another increase in the number of rigs drilling for crude rose over the past week. Production has risen for the past 16 weeks in a row. Universal Display (OLED) rallied after reporting a massive 87% increase in quarterly revenue. Universal is rumored to have provided its display product to the iPhone 8. Shake Shack (SHAK) surged even as same-store sales turned negative over its recent quarter. Same-restaurant sales decreased by 2.5% over its first quarter, down from nearly 10% growth in the same period a year earlier.
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