US Stocks Rebound on Falling Oil Prices and Easing Bond Yields

The US stock market experienced its best day in six weeks on Thursday, as falling oil prices and easing pressure from the bond market helped reverse many of the previous day's moves.

Investors saw a boost after Brent crude oil prices dropped by 1% to settle at $US104.82, down from nearly $US110 earlier in the week due to concerns over the Iran war affecting global oil supply.

The decline in oil prices helped lower bond yields, easing pressure on stocks and removing some of the previous day's losses.

Despite the US Federal Reserve's interest rate hike by a quarter of a percentage point on Wednesday, which initially sent stocks into a rollercoaster, markets ultimately rose due to confidence that the Fed is committed to getting inflation back under control.