NEW YORK — Wall Street resumed its rally Wednesday, rising moderately as investors saw rebounding commodities prices as a reason to snap up energy and materials stocks.
Commodities prices that have been skidding lower for months turned around as investors seemed to have more of an appetite for risk. Gold picked up more than $36 an ounce. That advance spilled over to stocks, lifting energy stocks including Exxon Mobil Corp. and mining company Freeport-McMoRan Copper & Gold Inc.
Shifting sentiment over a possible bailout deal for Detroit's Big Three automakers tugged at stocks throughout the session.