Commodities
US Stocks Surge as Oil Prices Fall and Bond Market Pressure Eases
The US stock market saw its best day in six weeks on Thursday as oil prices fell and pressure from the bond market eased.
The S&P 500 jumped 1.1% for just its second rise in nine days, while the Dow Jones Industrial Average added 316 points or 0.6%, and the Nasdaq composite climbed 1.7%.
The drop in oil prices, which fell to $104.82 per barrel, helped pull yields lower in the bond market and removed some pressure on stocks. The yield on the 10-year Treasury fell to 4.93% from 5.01% late Wednesday.