Wall Street rallied after falling oil prices and yields in the bond market eased the pressure on U.S. stocks.
The S&P 500 rose 0.4% Thursday for its 10th gain in the last 11 days, a day after dropping from its all-time high. The Dow Jones Industrial Average soared 1.7% to a record, and the Nasdaq composite slipped 0.1%.
Banks and small companies helped lead the way after oil prices fell close to 3% and Treasury yields dipped. They more than made up for weakness among some influential AI stocks, which sank despite a strong profit report from Broadcom.
On Thursday:
The S&P 500 rose 30.63 points, or 0.4%, to 7,584.31.
The Dow Jones Industrial Average rose 874.86 points, or 1.7%, to 51,561.93.
The Nasdaq composite fell 23.02 points, or 0.1%, to 26,830.96.
The Russell 2000 index of smaller companies rose 41.81 points, or 1.4% to 2,935.33.
For the week:
The S&P 500 is up 4.25 points, or 0.1%.
The Dow is up 529.47 points, or 1%.
The Nasdaq is down 141.66 points, or 0.5%.
The Russell 2000 is up 15.99 points, or 0.5%.
For the year:
The S&P 500 is up 738.81 points, or 10.8%.
The Dow is up 3,498.64 points, or 7.3%.
The Nasdaq is up 3,588.97 points, or 15.4%.
The Russell 2000 is up 453.42 points, or 18.3%.
