US Stocks Surge to Best Day in Six Weeks Amid Falling Oil Prices

The US stock market experienced its best day in six weeks on Thursday, rebounding from earlier losses due to falling oil prices and easing bond yields.

The S&P 500 surged by 1.1% to reach 7,637.76 points, while the Dow Jones Industrial Average gained 316 points or 0.6%, and the Nasdaq composite climbed 1.7%.

The rally was driven by a decline in Brent crude oil prices to $104.82 per barrel from earlier highs of nearly $110 due to concerns over the impact of the war with Iran on global oil supply.

The drop in oil prices helped reduce pressure on stocks, as yields on 10-year Treasuries fell to 4.93% from 5.01% late Wednesday.