Commodities
US Stocks Rebound as Oil Prices Fall and Bond Market Pressure Eases
US stocks are recovering from yesterday's losses after oil prices fell and pressure from the bond market eased. The S&P 500 rose 1.1% on Thursday, heading for its best day in six weeks.
The Dow Jones Industrial Average was up 346 points, or 0.7%, with an hour remaining in trading. The Nasdaq composite was 1.6% higher after oil prices slid 1% to settle at $104.82 per barrel of Brent crude.
The Federal Reserve raised its main interest rate for the first time in years on Wednesday, citing high inflation and geopolitical tensions as reasons for the hike. Fed Chairman Kevin Warsh said a strengthening economy is one of the reasons officials moved to raise interest rates.