Hopes for an end to oil price rout sends stocks higher; Dow up 305

NEW YORK (AP) -- Hopeful signs that the long-running collapse in oil prices could be ending helped send the stock market sharply higher Tuesday.<br /> <br /> Energy stocks led the way up as the price of oil surged 7 percent. Chevron and Exxon Mobil were among the biggest gainers in the Dow Jones industrial average.<br /> <br /> Overall the energy sector rose 2.8 percent, twice as much as the rest of the market.<br /> <br /> European indexes rose following signs that the new Greek government won't press for a write-off of its bailout loans.<br /> <br /> At the closing bell the Dow was up 305 points, or 1.8 percent, at 17,666.<br /> <br /> The Standard & Poor's 500 index climbed 29 points, or 1.4 percent, to 2,050. The Nasdaq rose 51 points, or 1.1 percent, to 4,727.<br /> <br /> Oil jumped $3.48 to $53.05 a barrel.