Bank stocks push indexes higher; oil prices dip

Financial companies are pushing stock indexes higher in midday trading. Oil prices dipped.

Bank of America Corp. rose 4 percent, leading the 30 stocks that make up the Dow Jones industrial average, after analysts said that the bank may soon raise its dividend. Bank stocks in the S&P 500 index are up 2 percent Tuesday, the most of any of the index's 10 company groups.

Oil prices fell 0.4 percent to $105 a barrel after reports that OPEC may raise its oil output.

The Dow Jones industrial average is up 115 points, or 0.9 percent, to 12,205 in midday trading. The S&P 500 is up 11, or 0.9 percent, to 1,321. The Nasdaq composite is up 22, or 0.8 percent, to 2,768.