U.S. stocks are rising in early trading as the price of oil steadies.

The move higher Wednesday follows gains in European and Asia stock markets.

The Dow Jones industrial average climbed 122 points, or 0.7 percent, to 17,495 as of 9:35 a.m. Eastern time Wednesday.

The Standard & Poor's 500 index rose 12 points, or 0.6 percent, to 2,015. The Nasdaq composite rose 24 points, or 0.5 percent, to 4,616.

U.S. benchmark crude oil rose 76 cents to $48.69 a barrel in New York.

Government bond prices fell. The yield on the 10-year Treasury note rose to 1.98 percent.