Commodities
US Stocks Rebound as Oil Prices Fall and Bond Market Pressure Eases
The US stock market showed signs of recovery Thursday after oil prices fell and pressure from the bond market eased. This reversal comes on the heels of the Federal Reserve's interest rate hike, which was its first in over three years.
Falling oil prices to around $104.79 per barrel helped ease pressure on stocks, particularly those related to energy production. The price drop also led to lower yields in the bond market, making borrowing more affordable and potentially stimulating economic growth.
The S&P 500 index rose by 1.1% as of Thursday afternoon, while the Dow Jones Industrial Average increased by 358 points or 0.7%. The Nasdaq composite was up 1.6% during the same period.