NEW YORK (AP) — U.S. stocks are opening the year on a strong note, but energy stocks slipped as the price of crude oil resumed its slide.

The Dow Jones industrial average gained 111 points, or 0.6 percent, to 17,934 as of 9:35 a.m. Eastern time Friday.

The Standard & Poor's 500 index rose 12 points, or 0.6 percent, to 2,070. The Nasdaq composite rose 38 points, or 0.8 percent, to 4,774.

Energy stocks lagged as crude oil prices fell again. Energy was the only one of the 10 sectors in the S&P 500 index that fell in early trading.

Crude oil fell 21 cents to $53.06 a barrel. Oil 45 percent last year, its biggest yearly loss since 2008.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.16 percent.