Highlights
Retreating oil prices and declining bond yields spurred a rebound in stocks on Thursday along with bargain-hunting after three straight days of declines. The Dow Jones industrial average rose 0.6 percent while the S&P 500 gained 1.1 percent and the Nasdaq was up 1.7 percent. The dollar index edged down with lower interest rates.
More hopeful sounding headlines from the Mideast sent oil prices lower, including reports that Saudi Arabia was finding new ways to get its oil to market and reports of secret US meetings with Houthi representatives. On the negative side, an Axios report said President Trump was considering whether to resume combat operations in Iran.
Among sectors, the AI trade and big technology shares were leaders after losses this week. Other outperformers included airlines, autos, homebuilders, industrial metals, and machinery. Lagging were energy as oil dipped, aerospace & defense, restaurant chains, and managed care.