US Stocks Rally on Falling Oil Prices and Easing Bond Market Pressure

The US stock market experienced its best day in six weeks after oil prices fell and pressure from the bond market eased, according to news8000.com.

On Thursday, the S&P 500 jumped 1.1%, its second rise in nine days, while the Dow Jones Industrial Average added 316 points (0.6%) and the Nasdaq composite climbed 1.7%.

The price of Brent crude oil dropped to $104.82 per barrel, down from nearly $110 earlier in the week due to concerns over the war with Iran affecting global oil supply.

The decline in oil prices helped lower yields in the bond market and removed some pressure on stocks, which had previously slid sharply after the Federal Reserve raised short-term interest rates for the first time in three years by a quarter of a percentage point.