U.S. stocks are rising Wednesday following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies. The S&P 500 was 0.5% higher in afternoon trading, a day after sliding from its all-time high because of tumbling energy and technology stocks.

Exxon Mobil dropped 2.6%, and energy stocks fell to some of Wall Street's sharpest losses after oil prices tumbled more than 4%. A barrel of Brent crude, the international standard, has fallen back toward $74 from more than $80 last week.