Closing Bell: American Eagle Jumps; Stocks Climb on Crude Rally

A rally in energy stocks pushed markets modestly higher to close out Tuesday's session.
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A rally in energy stocks pushed markets modestly higher to close out Tuesday's session. Crude oil spiked 4% to settle at its best level in more than two weeks as Libyan production weakened and an oil worker strike in Brazil impeded output. American Eagle Outfitters (AEO) jumped after snapping up Tailgate Clothing for $11 million. The clothing company designs vintage collegiate style fashion, a style that vibes well with American Eagle's teen target market. AIG (AIG) fell after missing quarterly estimates by a mile. The insurance company earned 52 cents a share, nearly half analysts' forecasts. The company has faced increased pressure to address structural problems after activist investor Carl Icahn pushed for a breakup.