Oil Price Rebound Gives US Stocks a Brief Reprieve

US stocks rebounded on Friday, ending a four-day losing streak as global crude oil prices retreated from recent highs.

The Dow Jones Industrial Average rose by 509.19 points, or 0.98 percent, to 52,573.29, while the S&P 500 added 65.28 points, or 0.86 percent, to 7,656.98.

The Nasdaq Composite Index increased by 251.31 points, or 0.96 percent, to 26,333.04. Nine of the 11 primary S&P 500 sectors ended in the green, with communication services and consumer discretionary leading the gainers.

Meanwhile, global energy markets retreated after a multi-day rally that had sent benchmarks to fresh highs. West Texas Intermediate for October delivery decreased by 2.43 US dollars, or 2.37 percent, to settle at 100.05 dollars a barrel on the New York Mercantile Exchange.