US STOCKS-Energy, Fannie Mae, tech boost Wall Street

(Updates to early afternoon, changes byline)

By Ellis Mnyandu

NEW YORK, May 6 (Reuters) - U.S. stocks rose on Tuesday as record crude oil prices lifted shares of energy companies including Exxon Mobil Corp (XOM.N: Quote, Profile, Research), while Fannie Mae's (FNM.N: Quote, Profile, Research) reassuring comments about the home financier's stability buoyed shares of financial services companies.

Technology shares rose on speculation that Microsoft Corp (MSFT.O: Quote, Profile, Research) , up 1.5 percent, and Yahoo Inc (YHOO.O: Quote, Profile, Research), up almost 6 percent, will resume takeover talks.

"Last week the story was that the dollar put in a base and commodities were topping," said Sasha Kostadinov, portfolio manager and research analyst at Shaker Investments in Cleveland, Ohio.

"Today, anybody who thought commodities were topping certainly has some explaining to do. We've had some earnings reports in the energy space and not surprisingly those were good reports. Energy stocks are driving the market today."

The Dow Jones industrial average .DJI climbed 26.21 points, or 0.20 percent, to 12,995.75. The Standard & Poor's 500 Index .SPX gained 7.17 points, or 0.51 percent, to 1,414.66. The Nasdaq Composite Index .IXIC shot up 13.23 points, or 0.54 percent, to 2,477.35.

Energy shares rose after U.S. crude oil hit a record above $122 a barrel. A stronger-than-expected profit from independent oil and gas company Anadarko Petroleum Corp (APC.N: Quote, Profile, Research) also buoyed the energy sector, with the stock up almost 8 percent and Exxon shares up nearly 1 percent.

Exxon Mobil shares rose to $90.22, while ConocoPhillips (COP.N: Quote, Profile, Research) climbed 2 percent to $86.86 on the New York Stock Exchange. Chevron Corp's (CVX.N: Quote, Profile, Research) shares were up 0.9 percent at $96.52, while Anadarko shares climbed to $73.89.