Energy stocks lead a weak recovery on Wall Street

Share prices on Wall Street staged a small rise overnight, as energy stocks advanced.

The Dow Jones Industrial Index rose 26.62 points to 11,412.87.

The S&P 500 rose 4.67 points to 1,271.51.

But the tech heavy NASDAQ composite index closed 3.62 points down at 2,361.97.

Oil futures rose $US1.09 a barrel to $US116.20.

And the Australian dollar was trading at 85.61 US cents a short time ago.

Although still weak, consumer confidence is now rising in the United States as the slump in house prices shows signs of slowing.

But other prices are creeping up again, and the Fed is now indicating that it will increase US interest rates, in the near future.

The Fed made that clear, when the minutes of its closed door meeting on Augst 5 were published yesterday.

Energy stocks led the limited gains that were made in the price of shares traded on Wall Street yesterday.

But information technology and consumer related shares fell slightly.

Trading volume was light, at just over 856 million trades.